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Saudi Arabia’s Government Invested Over $2 Billion in Aramco IPO

  • Non-saudi investors took 23% of the shares, lead manager says
  • The world’s largest public company starts trading on Wednesday
An advertisement for Saudi Aramco's initial public offering stands on a roadside in Dammam.

An advertisement for Saudi Aramco's initial public offering stands on a roadside in Dammam.

Photographer: Tasneem Alsultan/Bloomberg

Saudi government institutions invested almost $2.3 billion into the initial public offering of Saudi Aramco, a transaction that was intended to find new sources of funding for the kingdom’s economic diversification plan.

The government sold two thirds of the shares offered in the company to institutional investors, of which 13.2% came from Saudi government institutions, according to a statement from Samba Capital, one of the lead managers on the deal. Non-Saudi investors were allocated 23.1% of the institutional offering, or about $3.9 billion.