SAUDI ARABIA: Saudi Aramco announced the successful completion of its secondary public offering, coordinated by SNB Capital as the lead manager and a consortium of global and domestic financial institutions. The Saudi government sold around 1.55 billion shares, representing 0.64% of Aramco's issued shares, at a final offer price of SAR27.25 (US$7.26) per share. This raised SAR42.1 billion (US$11.21 billion), with potential gross proceeds increasing to SAR46.31 billion (US$12.34 billion) if the over-allotment option is fully exercised.
The offering is touted as the largest secondary offering in the Europe, Middle East, Africa region since 2000, and the largest equity capital markets offering in the Middle East since Aramco's own IPO in 2019.
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