Aramco IPO well covered as retail tranche wraps up

摘要

Oil giant saudi aramco has achieved nearly two times coverage on the full IPO size at the top of the range with days left to go. Aramco said on Friday that total institutional bids and retail subscription had totalled SR166bn (US$45.2bn), well in excess of the SR90bn-SR96bn Tadawul IPO target. Total institutional orders amounted to SR118.9bn, compared to a tranche size of SR60bn-SR64bn. The subscription update did not comment on price sensitivity in the book.