Saudi Aramco to sell less than 1% of shares to retail investors in potential largest IPO in history
Saudi Aramco to sell less than 1% of shares to retail investors in potential largest IPO in history
Saudi state oil giant Aramco has revealed the date and the size of its long-anticipated initial public offering (IPO), which may become the largest in history.
In a prospectus released on Saturday, Saudi Aramco said it will offer up to 0.5 percent of its shares to individual investors, defying previous expectations of around 2 percent that were circulating in the media. The oil company said the offering will start next Sunday, November 17, and close on November 28 for individual subscribers and on December 4 for institutional investors.
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