Saudi Arabia Set for $11.2 Billion Haul From Aramco Sale
- The kingdom prices the shares at 27.25 riyals apiece
- The final pricing is in the bottom half of a proposed range
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Saudi Aramco’s mega stock offering will raise at least $11.2 billion for Riyadh, the biggest such deal globally in about three years that will help fund a multitrillion-dollar push to transform the economy.
The government will sell almost 1.55 billion shares for 27.25 riyals ($7.27) apiece, according to a statement. That’s a 6% discount to the stock’s last close before the deal was announced, in line with the average for offers of a similar size over the past decade.