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Samba Capital extends working hours for Aramco’s IPO

Samba Capital extends working hours for Aramco’s IPO
The bank extended working hours to 06:00 PM
SAMBA
1090
4.62% 38.50 1.70

Riyadh – Mubasher: Samba Capital, lead manager of the Saudi Aramco initial public offering (IPO) has extended working hours to 6:00 PM during the subscription period in all of Samba Financial Group’s branches.

Saudi Arabian Oil Company (Saudi Aramco) has announced the price range of its IPO on the Saudi Stock Exchange (Tadawul), which began today, 17 November, and will continue until Wednesday 4 December.

The price range has been set between SAR 30 and SAR 32 ($8-8.5), with the offering representing about 1.5% of the company’s capital.

Price for individual investors will be at SAR 32 per share, with the retail offering period for individual investors set on 17-28 November.

Final offer price will be determined and announced on 5 December 2019.

The targeted percentage of offer shares allocable to individual investors will be up to 0.5% of the shares, according to the company’s Subscription Guidelines.