State-owned oil company Saudi Aramco said it has exercised its "greenshoe option" to sell an additional 450 million shares, raising the size of its IPO to a record $29.4 billion. Aramco initially raised a then-record $25.6 billion in its IPO in December by selling 3 billion shares at 32 riyals ($8.53) but indicated it may sell additional shares through the over-allotment of shares.