Saudi Aramco’s initial public offering (IPO) was covered by 173 percent in its first 12 days, before the Dec. 4 deadline for institutional investors to submit offers. Bids received by Friday from institutional and retail investors totaled $44.2 billion, lead manager Samba Capital said. These figures constitute 1.7 times the value Saudi Arabia aims to raise from selling a 1.5 percent stake in the state-owned oil giant. The Aramco IPO ...
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