Riyadh – Mubasher: The value of subscriptions in Saudi Aramco’s IPO has reached SAR 72.99 billion ($19.46 billion) in the first five days of the offering, according to a report released by Sama Capital, the IPO’s lead manager.

Institutional subscriptions amounted to SAR 58.39 billion for 1.82 billion shares, while retail subscriptions reached SAR 14.59 billion for 456.076 shares.

“Retail and Institutional subscription levels for the first five days of the offering have reached an unprecedented scale, demonstrating the confidence of investors in Saudi Aramco,” Samba Capital’s vice chairman Rania Nashar said.

Subscription of individuals and entities in Aramco’s IPO began Sunday on 1.5% of the company’s shares.