Saudis Said to Hand About 60% of Aramco Offer to Foreigners
- Deal said to have generated strong demand from the US, Europe
- Offer said to get orders worth as much as $65 billion in total
Foreign investors were allocated about 60% of the shares on offer in Saudi Aramco’s $11.2 billion stock sale, people familiar with the matter said, marking a turnaround from the oil giant’s 2019 listing that ended up as a largely local affair.
The deal generated strong demand from the US and Europe, according to the people, who declined to be identified as the information is private. Funds from the UK, Hong Kong and Japan also backed the share sale that drew orders worth more than $65 billion in total, the people said.