The institutional tranche of Saudi Aramco's planned initial public offering...
RIYADH - The institutional tranche of Saudi Aramco’s planned initial public offering has been almost three times oversubscribed, receiving orders worth 189.04 billion riyals , financial advisers for the IPO said on Tuesday.
Typically, IPOs in Saudi Arabia tend to be subscribed many times over, although the unprecedented size of Aramco’s listing means it is harder to benchmark the level of demand. The deal could be the world’s biggest IPO if it tops the $25 billion listing of China’s Alibaba Group Holding Ltd in 2014.
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