Bulletin
Investor Alert

New York Markets After Hours

Market Pulse Archives

Dec. 5, 2019, 2:18 p.m. EST

Saudi Aramco prices its IPO at 32 riyals, valuing the oil giant at $1.7 trillion: report

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Myra P. Saefong

Saudi Arabian Oil Company announced Thursday that it's setting the final offer price for its IPO at 32 riyals per share, valuing the company at $1.7 trillion. This is in line with what was previously expected. The offering size is 3 billion shares, setting the offer amount at 96 billion riyals, or $25.6 billion, assuming no exercise of the purchase option, according to a company release tweeted by a Bloomberg reporter . On ICE Futures Europe, February Brent crude traded at $63.39 a barrel, up 38 cents, or 0.6%, with major oil producers in Vienna expected to announce further cuts in crude output.

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.