Saudi Aramco announced today the offer price range for the offering, as well as the commencement of the institutional book-building period and the retail offering period; as per the following offer details:
– The offer price range for the offering has been set at SAR 30 to SAR 32 per share.
– Final offer price will be determined at the end of the book-building period. Individual investors will subscribe based on a price of SAR 32, which is the top end of the price range.
– The baseoffer size will be 1.5% of the company's outstanding shares.
– If thefinal offer price is below SAR 32, individual investors can, in respect of thedifference between the highest price of the offer price range and the finaloffer price, elect to (1) have the surplus subscription amount refunded in cashby crediting the account of individual investors or (2) to be considered for anallotment of additional offer shares.
For full details of the offering and subscription process visit: (www.saudiaramco.com)key-documents
Aramco pointed out that it will begin trading its shares in the market after meeting all the requirements and completing all the regulatory procedures.
Shares will be announced on the saudi stock exchange tadawul website (www.tadawul.com.sa).
