Aramco’s record IPO is now worth $29.4 billion after the company sold additional shares
DUBAI—Saudi Aramco said it netted an additional $3.8 billion from its record initial public offering as it sold more shares to meet investor demand, boosting Crown Prince Mohmmed bin Salman’s war chest to reshape the country’s oil-dependent economy.
The state oil giant, officially called Saudi Arabian Oil Co., listed on a local exchange last month after selling 3 billion shares at 32 Saudi riyals each to raise $25.6 billion. It allocated 450 million more shares to investors during the book-building process as part...
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