Saudi Aramco logo
Company announced Aramco Saudi Arabia Today, the offering document for the secondary public offering of 1.545 billion shares of its stock.
The company officially announced this offering yesterday, Thursday, May 30.
To view more IPO news and details
The order book building process will begin on Sunday, June 2, 2024 and end on Thursday, June 6, 2024.
While the subscription period for the individual segment begins at 9 a.m. on Monday, June 3, and ends at 5 p.m. on Wednesday, June 5, 2024.
The shares scheduled to be offered constitute approximately 0.64% of the company’s issued shares, as Aramco’s capital amounts to 90 billion riyals, which is divided into 242 billion shares (with no nominal value per share).
Subscription is limited to two tranches:
– Segment of subscribing institutions: It will be allocated 1,390.5 million shares, representing 90% of the offering shares.
– Individual segment: 154.5 million shares will be allocated to this tranche, and these shares represent 10% of the offering shares.
The government will receive the full net proceeds from the offering and will compensate the company for all offering expenses. Accordingly, the company will not receive any proceeds from the offering, and the offering will not result in any reduction in the percentage of shares owned by other shareholders in the company.
The offering document indicated that the excess subscription amount or the full amount would be returned to the individual subscriber in cash In the following cases:
(a) If the final offering price is less than the individual subscription price, or (b) if all the subscribed shares are not allocated to it, or (c) if the final offering price is higher than the closing price of the shares in the Saudi Stock Market on the last day of the period. Building the order register on 11/29/1445 AH (corresponding to 06/06/2024 AD). If paragraph (c) applies, none of the offering shares will be allocated to the category of individual subscribers.
All subscription amounts will be returned to the individual subscriber (if applicable) without any commissions or deductions by the receiving parties.
The refunded amounts will be deposited in the accounts of the individual subscriber specified in his subscription application, including any amounts related to fractional shares of the offering (if any).
The offering document also stipulates that the holders of the offering shares are entitled to their share of any profits announced by the company as of the date of this document.
The following is the most important information about the offering:
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company information
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Company
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Aramco Saudi Arabia
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market
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The main Saudi market
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Field of Company
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oil and gas
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The company’s capital
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90 billion riyals
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Number of Shares
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242 billion shares
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The nominal value of the stock
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There is no nominal value for the stock
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Subscription information
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Subtraction ratio
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0.64%
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Number of shares offered
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1.545 billion shares
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Price range
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From 26.7 riyals to 29.0 riyals per share
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Minimum subscription for individuals
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10 shares
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The maximum limit for individual subscription
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nothing
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Minimum institutional subscription
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100 thousand shares
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The maximum limit for institutional subscription
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nothing
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Subscription period for individuals
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Starting Monday, June 3, 2024 and continuing for 3 days, ending Wednesday, June 5, 2024
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The period of book building and institutional subscription
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Sunday, June 2, 2024 and ends Thursday, June 6, 2024
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Announcing the final offering price
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07 June 2024
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Announcing the final allocation
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07 June 2024
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Deadline for depositing individual shares
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09 June 2024
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The expected date for the start of trading in the offering shares
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09 June 2024
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Refund the surplus (if any)
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June 11, 2024
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Period of price stability
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From June 9 to July 9, 2024
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Shareholders of the company
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Contributors
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Before offering
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After subtraction
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Number of Shares
(billion shares)
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ownership percentage
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Number of Shares
(billion shares)
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ownership percentage
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the government
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198.89
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82.19%
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197.35
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81.55%
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Other contributors
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43.11
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17.81%
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44.65
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18.45%
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Total
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242.0
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100%
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242.0
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100%
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additional information
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Underwriting Manager
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AlAhli Finance
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Recipients
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First Saudi Bank (SABB) – Alinma Bank – Arab National Bank – National Bank of Saudi Arabia – Al Rajhi Bank – Riyad Bank – Banque Saudi Fransi
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