Aramco Announces Final Share Price For Its Secondary Public Offering

The Saudi Arabian Oil Company, commonly known as Aramco, has announced the final price for its secondary public offering of shares. This offering includes 1.545 billion shares, representing approximately 0.64% of the company's issued shares. The final price for both institutional and individual subscribers is set at SAR27.25 per share.

Individual subscribers will receive a minimum of ten shares each, with any remaining shares allocated proportionally. Aramco disclosed that 1,331,915 individual subscribers have fully subscribed to the offering. Consequently, 10% of the offering shares will be allocated to individual subscribers, while the remaining 90% will be allocated to institutional subscribers.

The company has granted the Stabilizing Manager a greenshoe option to cover short selling operations resulting from any overallotment of shares. The Stabilizing Manager may purchase up to 10% of the offering shares at the final offering price. This over-allotment option can be exercised within 30 calendar days from the date the offering shares started trading.

Offering Document and Settlement Process

Aramco has published the offering document, which is available at (www.aramco.com/share-offering). Interested parties are encouraged to read the document for complete information on key event dates related to the offering, as well as details on the subscription and settlement process.

The settlement process and delivery of the offering shares to subscribing institutions will occur through negotiated trades outside the market. For individual subscribers, the settlement process will be managed by the subscription manager and Edaa, the company's securities depository centers.

Trading and Refund Information

The offering shares will be deposited into individual subscribers' wallets or brokerage accounts with their respective financial market institutions. The deposit of these shares for both subscribing institutions and individual subscribers will be completed before the opening of the Saudi Exchange on Sunday. Subscribers can begin trading the offering shares when the Saudi Exchange opens on that day.

Any surplus subscription funds will be refunded to individual subscribers on Tuesday.

-- SPA 16:14 Local Time 13:14 GMT 0016

With inputs from SPA