- Saudi Aramco successfully concluded its secondary public sale of common shares, broadening and extending its shareholder base.
- The share sale attracted substantial participation from new foreign and local investors, increasing the shares' liquidity.
- The offering resulted in the sale of 1.545 billion Saudi Aramco shares, making it the largest secondary offering in Europe, the Middle East, and Africa since 2000.
"Dhahran, the 12th of June, 2024, saw the successful conclusion of Saudi Aramco's secondary public sale of common shares, also known as the Saudi Arabian Oil Company. This share sale accomplishes the goals of broadening and extending Saudi Aramco's shareholder base, according to Eng. Amin bin Hassan Nasser, president and CEO of Aramco. Eng. Amin bin Hassan Nasser noted that the share sale achieves this by attracting substantial participation from new foreign and local investors, ultimately leading to an increase in the shares' liquidity. In addition to expressing his satisfaction and gratitude for the consistent support of local institutions and individual investors, he extended a warm welcome to new owners representing countries all over the world. The success of this offering demonstrates our proven record in operational and financial performance since the record initial public offering (IPO) in 2019, said Nasser in an announcement. It also reflects the growing international recognition of our competitive advantages and long-term growth strategy across an expanding global portfolio.
Additionally, it displays confidence in our ability to successfully execute our business across the whole energy value chain, including upstream, refining, chemicals, integrated marketing, and new energy sources, including low-carbon projects. The offering resulted in the sale of 1.545 billion Saudi Aramco shares, which is equivalent to approximately 0.64% of the total number of shares offered by the business. It is the largest equity offering to occur in Europe, the Middle East, and Africa since 2000, and it is also the biggest share sale in the Middle East following the company's initial public offering (IPO) that took place in 2019. For individual and institutional subscribers, the final offering price per share was SAR 27.25.
