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Aramco Supersizes IPO, Issues More Shares

OilPrice.com Monday, 13 January 2020
Aramco has exercised the greenshoe option attached to its initial public offering, issuing another 450 million shares to raise an additional $3.8 billion, the company said as quoted by CNN. As a result, the already record-breaking IPO of the Saudi energy giant has been pushed up to a total $29.4 billion. Aramco listed 3 billion of its shares on the Tadawul exchange in early December and quickly touched the much-hyped $2-trillion valuation Crown Prince Mohammed was after when he decided to list a minority stake in the company. After that, however,…
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