Aramco IPO raises 73 billion riyals so far: Samba financial group

FILE PHOTO: Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov

CAIRO (Reuters) – The institutional tranche of Saudi Aramco’s initial public offering (IPO) has received approximately 73 billion riyals ($19.47 billion) in orders, Saudi Arabia’s Samba Financial Group said on Thursday.

Some 1.8 million retail subscribers have injected more than 14 billion riyals into the IPO so far, Samba, one of the banks managing the deal, added in a statement sent to Reuters.

Reporting by Alaa Swilam in Cairo; Writing by Tuqa Khalid/Mark Heinrich

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