Saudi Arabian oil giant Aramco announces its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called “greenshoe option” to sell millions more shares to meet investor demand.
FILE- In this Dec. 11, 2019, file photo, the Saudi stock market officials watch the stock market screen displaying Saudi Arabia's state-owned oil company Aramco after the debut of Aramco's initial public offering on the Riyadh's stock market in Riyadh, Saudi Arabia. Saudi Arabian oil company Aramco's initial public offering raised $29.
The company said that the sale of an additional 450 million shares took place during the initial public offering process. Aramco’s additional sales mean the company has publicly floated 1.7% of its shares. It’s IPO, even before the added sales, was the world’s largest ever.
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