Saudi Aramco’s $12 Billion Stock Offer Sells Out in Hours
- Government has demand for all shares on offer, terms show
- Saudi Arabia will use funds to pay for Vision 2030 projects
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Saudi Aramco’s $12 billion share sale sold out shortly after the deal opened on Sunday, in a boon to the government that’s seeking funds to help pay for a massive economic transformation plan.
The government had demand for all shares on offer in a few hours after books opened, according to terms of the deal seen by Bloomberg News. Books were covered within the price range of 26.70 riyals to 29 riyals.