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Saudi Arabia raises $12.35 billion in Aramco secondary offering

set Saudi Arabia According to Reuters, Aramco raised $12.35 billion through a secondary share offering after the company exercised an option to issue additional shares.

The success of the offering and the additional returns will help bolster Saudi Arabia’s ambitions to invest in new sectors and diversify its economy away from oil within the framework of its Vision 2030 plan.

Additional billion dollars

According to the document Posted late yesterday, TuesdayThe kingdom raised an extra $1 billion after exercising a so-called additional allotment option, which allows the bank to sell more shares if there is demand from investors.

Last month, the government sold 0.64% of its shares, or about 1.545 billion shares. Saudi Aramco The price per share is 27.25 riyals ($7.27).

Another 154.5 million shares were sold through Merrill Lynch, which served as price stabilization manager in the transaction.

Aramco shares have risen 3.3% since the offering last month and are trading at 28.15 riyals ($7.51).

Merrill Lynch said in the filing that it had exercised its option for additional placements and that a month-long stabilization period had ended without such transactions.

The logo of the Saudi Stock Exchange (Tadawul) is seen at its headquarters in Riyadh, November 3, 2019. Saudi Aramco announced its long-awaited stock debut on Sunday in what could be the world's largest IPO, bolstering Crown Prince Mohammed bin Salman's ambition to overhaul the Saudi stock exchange. The kingdom's economy is dependent on oil. (Photo by Fayez Noureddine/AFP)
Saudi Arabia issues 154.5 million shares through Merrill Lynch France

Bonds

In other context, the IFR fixed income news service said Saudi Aramco has started selling… Bonds It has 3 stages: 10 years, 30 years and 40 years.

Aramco set the initial indicative price about 195 basis points higher, she added. National Debt The 40-year U.S. Treasury bond is about 180 basis points higher than the 30-year U.S. Treasury bond and about 140 basis points higher than the 10-year U.S. Treasury bond.


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