Aramco Supersizes IPO, Issues More Shares

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,…