Business & Money | Saturday 30 November, 2019 12:13 am |

 

With reference to the announcement made by Saudi Arabian Oil Company (“Saudi Aramco”) in relation to the Offer Price Range and the start of the institutional book-building and retail offering period on Sunday, 17 November 2019, Samba Capital, NCB Capital and HSBC Saudi Arabia, the Joint Financial Advisors and Joint Global Coordinators, announce that subscriptions and bids during the first twelve days of the Offering Period have totalled SAR 166,275, 447, 560:  

●      Institutional bids received during the first 12 days of the bookbuilding period, which continues until December 4, 2019 (17:00 KSA Time), amounted to SAR 118,863,822,600, with the following breakdown by institutional investor category:

‒      Saudi Corporates 54.0%

‒      Saudi Funds, DPMs and Authorized Persons: 24.1%

‒      Saudi GREs: 11.1%

‒      Non-Saudi investors (including GCC investors, QFIs and Swaps): 10.5%

‒      Others 0.3%

• Retail subscriptions, which concluded last night (November 28, 2019), reached SAR 47,411,624,960, representing total subscribers of 4,906,952 and total subscribed shares of 1,481,613,280.

Rania Nashar, Deputy Chairman of Samba Capital, commented that the high turnout and subscription rates of retail investors is a source of pride, an indication of success and a signal of confidence, further bolstering the reputation and prestige of a company that has an unrivalled standing globally in the energy sector. This success corroborates the foresight and depth of the strategic decision behind this landmark moment not just in the company’s history, but also in the development of the Kingdom’s economy. 

NCB Capital CEO, Sarah Al Suhaimi said “the success of the retail tranche is mirrored in the institutional tranche where bids reflect strong demand coming from across the spectrum of investor categories, reflective of Saudi Aramco’s compelling investment proposition. We are confident that this momentum will be maintained throughout the remainder of the institutional book-building period. This institutional demand also speaks well to the depth and diversification of the Saudi capital markets and its investor base."