Saudi Aramco announce secondary placement of shares

By Alimat Aliyeva

Saudi Aramco oil company has announced a secondary placement of shares, which will begin on June 2, Azernews reports.

According to the statement, the range of the share placement price will be from 26.7 to 29 Saudi reais per share (about $7.1-7.7 per share). In total, the company plans to place 1.545 billion. shares, or 0.64% of all shares. 154.5 million shares will be available to retail investors.

The initial public offering (IPO) of Saudi Aramco at the end of 2019 was the largest in history and amounted to almost $ 30 billion. The company's shares are currently trading around 29 rials ($7.7) apiece.