Saudi Arabia Prices Aramco Shares at $7.27 in $11.2 Billion Offering
Provided by
Dow Jones
By Christian Moess Laursen
Saudi Arabia and its national oil company Saudi Aramco on Friday set the final offer price for its secondary public offering at 27.25 riyals ($7.27), as the country pursues an $11.2 billion fundraise to boost plans to diversify its economy beyond oil.
This confirms a report by the Wall Street Journal late Thursday. The set price is toward the lower end of the targeted range of SAR26.70 to SAR29.00.
The stock, which is listed on Saudi Arabia's Tadawul stock exchange, closed Thursday at SAR28.30.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
June 07, 2024 05:57 ET (09:57 GMT)
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