Saudi Aramco Launches Secondary Offering Of 1.545 Billion Shares

Saudi Arabian Oil Co. (Saudi Aramco) announced on Sunday the initiation of a secondary public offering comprising 1.545 billion ordinary shares, representing 0.64% of the company's total issued shares. The price range for the offer shares is set between SAR 26.70 and 29.00 per share. Interested individuals can access the Offering Document through the company's official website.

Subscribers will purchase shares at the highest price within the specified range using electronic channels provided by receiving entities. They must specify the number of shares they wish to buy. If the final offer price is lower than the retail subscription price, or if not all requested shares are allocated, or if the final offer price exceeds the closing market price on the Saudi Exchange on Thursday, any excess or full subscription amounts will be refunded by Tuesday.

The settlement process and delivery of offer shares to institutional investors will be conducted through out-of-market negotiated trades, adhering to the "negotiated trades" framework of the Saudi Exchange. For individual investors, the settlement process will be managed by the lead manager and the Securities Depository Center Company (Edaa).

Offer shares allocated to individual investors will be directly transferred to their investment portfolio accounts with brokers of receiving entities. The deposit of offer shares allocated to both institutional and individual investors will be completed before the market opens on Sunday, enabling investors to trade their offer shares on the same day.

Refunding of excess subscription amounts to individual subscribers will match the difference between the subscription value of SAR 29 per share and the final offer price, as well as any surplus amount for shares that were not allocated by Tuesday.

For more detailed information, interested parties can refer to the Offering Document available on Saudi Aramco's official website.

With inputs from SPA