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The Saudi Arabian Oil Company (Saudi Aramco) announced on Tuesday the completion of the secondary public offering of common shares in the company.
Aramco president and chief executive Eng. Amin bin Hassan Nasser explained that this offering of shares achieves the goals of diversifying and expanding Saudi Aramco’s shareholder base by attracting strong participation from new international and local investors, which in turn further enhances the liquidity of the shares, SPA reported.
He welcomed new shareholders from all over the world, expressing his pride and gratitude for the continued trust of local institutions and individual investors.
“The success of this offering demonstrates our proven record in operational and financial performance since the record initial public offering (IPO) in 2019,” Nasser said.
“It also reflects the growing international awareness of our competitive strengths and our long-term growth strategy across an expanding global portfolio.
It also highlights confidence in our ability to successfully execute our business across the energy value chain in upstream, refining, chemicals, integrated marketing, and new energy sources, including low-carbon projects.”
Through the offering, 1.545 billion Saudi Aramco shares were sold, representing about 0.64% of the company’s issued shares, as it is considered the largest secondary offering in Europe, the Middle East, and Africa since 2000, and the largest share offering in the Middle East region after the company’s 2019 IPO.
The final offering price for individual subscribers and institutional subscribers was SAR 27.25 per share.
