Aramco shares were flat at 35 riyals shortly after the market opened, according to Refinitiv data.
(Jan 13): State-owned oil company Saudi Aramco said on Sunday it had exercised its “greenshoe option” to sell an additional 450 million shares, raising the size of its initial public offering (IPO) to a record US$29.4 billion ($39.6 billion).
Aramco initially raised a US$25.6 billion, which was itself a record level, in its December IPO by selling 3 billion shares at 32 riyals a share. But it had indicated it could sell additional shares through the over-allotment of shares.
