{"id":3347,"date":"2020-01-12T13:14:49","date_gmt":"2020-01-12T13:14:49","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2020\/01\/12\/aramcos-greenshoe-option-pushes-ipo-to-record-29-4-billion\/"},"modified":"2020-01-12T13:14:49","modified_gmt":"2020-01-12T13:14:49","slug":"aramcos-greenshoe-option-pushes-ipo-to-record-29-4-billion","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2020\/01\/12\/aramcos-greenshoe-option-pushes-ipo-to-record-29-4-billion\/","title":{"rendered":"Aramco&#8217;s &#8216;greenshoe option&#8217; pushes IPO to record $29.4 billion"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-1820594 size-full\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2020\/01\/Aramco.jpg\" alt=\"Aramco,\u00a0Aramco\u00a0greenshoe option,\u00a0IPO,\u00a0Apple,\u00a0Crown Prince Mohammed bin Salman\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2020\/01\/Aramco.jpg 660w, https:\/\/images.financialexpress.com\/2020\/01\/Aramco-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/01\/Aramco-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/01\/Aramco-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"wp-image-1820594 size-full\" src=\"https:\/\/images.financialexpress.com\/2020\/01\/Aramco.jpg\" alt=\"Aramco,\u00a0Aramco\u00a0greenshoe option,\u00a0IPO,\u00a0Apple,\u00a0Crown Prince Mohammed bin Salman\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/01\/Aramco.jpg 660w, https:\/\/images.financialexpress.com\/2020\/01\/Aramco-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/01\/Aramco-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/01\/Aramco-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. (AP photo)<\/span><\/figure>\n<\/div>\n<p>Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record USD 29.4 billion, a figure higher than previously announced, after the company used a so-called \u201cgreenshoe option\u201d to sell millions more shares to meet investor demand.<\/p>\n<p>The company said that the sale of an additional 450 million shares took place during the initial public offering process. The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11.<\/p>\n<p>It hit upwards of USD 10 a share on the second day of trading. This gave Aramco a market capitalization of USD 2 trillion, making it comfortably the world\u2019s most valuable company. Aramco\u2019s additional sales mean the company has publicly floated 1.7 per cent of its shares.<\/p>\n<p>It\u2019s IPO, even before the added sales, was the world\u2019s largest ever. The shares sold in the over-allotment option \u201chad been allocated to investors during the bookbuilding process and therefore, no additional shares are being offered into the market today,\u201d Aramco said.<\/p>\n<p>Company shares traded down on Sunday, dipping to around 34.7 riyals, or USD 9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States.<br \/>Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi<\/p>\n<p>Arabia and the US blame on Iran, temporarily halved its production. Sunday\u2019s trading figures value Aramco at USD 1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the USD 2 trillion mark sought by Crown Prince Mohammed bin Salman.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n<div class=\"jobbi-after-content-jh-placement jobbi-entity-placement\" id=\"jobbi-2359580872\"><div id=\"jobbi-1621531619\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5862940809620110\" crossorigin=\"anonymous\"><\/script><ins class=\"adsbygoogle\" style=\"display:block;\" data-ad-client=\"ca-pub-5862940809620110\" \ndata-ad-slot=\"\" \ndata-ad-format=\"auto\"><\/ins>\n<script> \n(adsbygoogle = window.adsbygoogle || []).push({}); \n<\/script>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>[ad_1] The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. (AP photo) Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record USD 29.4 billion, a figure higher than previously announced, after the company used [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":3348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/3347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=3347"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/3347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/3348"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=3347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=3347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=3347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}