The world’s largest initial public offering soared past expectations in its long-awaited debut on Wednesday morning: Saudi Aramco listed 1.5% of its shares on the local stock exchange and priced its IPO at $8.53 per share, raising a total of $25.6 billion.
What is Aramco IPO price per share?
Aramco shares were down 6.2% at 30.85 riyals ($8.22) at 0852 GMT, their sharpest percentage fall in a day, and below the IPO price of 32 riyals. The Saudi market . TASI was down 7.4%. Aramco’s record IPO in December gave it a price tag of $1.7 trillion, making it the world’s most valuable company.
Can I buy Aramco IPO?
According to the prospectus, to buy an Aramco share, you must fulfill one or more of the following conditions: Saudi Arabian nationals, including any Saudi female divorcee or widow with minor children from a marriage to a non-Saudi person.
Was Saudi Aramco IPO successful?
While this initial portion of the Aramco IPO has been quite successful, at the very least making some of the more vocal critics think twice, it did not achieve the ultimate goal of raising $100 billion for Saudi Arabia’s Public Investment Fund (PIF), and thus its efforts to diversify the Saudi economy.
Can I buy Aramco shares?
But for those looking to get a little exposure, at least two widely available exchange-traded funds now hold shares of the company. Aramco, known officially as Saudi Arabian Oil Co. … Foreign investment is allowed through institutions with at least $5 billion in assets, and foreigners can’t buy more than 5% of a company.
Is Aramco a good investment?
Aswath Damodaran, a New York University professor, calculated Aramco at a valuation of $1.7 trillion might be a pretty good investment for Saudi nationals, but just for the dividends as the stock price won’t have much room to appreciate. These Saudi investors are getting an absolute monster of a company.
Who is the CEO of Aramco?
Who owns Saudi Aramco?
Saudi Aramco is currently led by Amin H. Nasser, its president and CEO. Yasir Al-Rumayyan is the Chair of the company.
How many Aramco shares can I buy?
Nowadays only ARAMCO IPO is available on the Saudi Stock Market, click subscribe. A new page will open up where you have to choose the number of shares you are interested to buy. You can buy in the multiples of 10 at a minimum of SR 320/-. Choose the option in case of a change of final price offering.
How can I buy Aramco SABB IPO?
The only requirement to buy Saudi Aramco shares in IPO is to have an online banking account in any of the following 13 banks.
- National Commercial Bank (NCB)
- Saudi British Bank (SABB)
- Samba Bank.
- Al Rajhi Bank.
- Al Awwal Bank.
- Alinma Bank.
- Arab National Bank (ANB)
- Bank Al Bilad.
Is Saudi Aramco publicly traded in the US?
No U.S. Listing for Now
Aramco decided in November that it would not list its IPO shares on a major U.S. exchange, making it difficult for the average U.S. investor to gain access to the stock. Tadawul has strict rules about foreign investment.