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World’s Biggest IPO Got Bigger: Aramco IPO at $29.4 Billion

  • Goldman placed 450m shares at 32 riyals at book-building
  • Month-long window to steady oil giant’s stock ended on Jan. 9
Updated on

The world’s biggest initial public offering turned out even bigger than initially thought.

The final amount raised by Saudi Aramco’s sale totaled $29.4 billion as Goldman Sachs Group Inc., one of the underwriters of the world’s biggest IPO, exercised the option to place some shares that were initially separated to avoid price swings, according to a statement. It said 450 million additional shares were placed at 32 riyals ($8.53) with investors during the book-building process.