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Saudi Aramco raises IPO to record $29.4 billion through greenshoe option

Saudi Aramco raises IPO to record $29.4 billion through greenshoe option

Sunday, January 12, 2020, 4:59 PM

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.
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