Riyadh – Mubasher: Samba Capital and Investment Management Company, the lead manager of the Saudi Arabian Oil Company’s (Saudi Aramco) initial public offering (IPO), announced updates on retail subscription results.

The number of subscribers reached 2.63 million, with a retail subscription value of SAR 21.77 billion and a total number of 680.25 million subscribed shares, as of 25 November at 5:00 PM.

The process of subscribing to Aramco’s shares witnessed positive and effective participation rates, supported by the confidence of citizens and individual investors in the value proposition of the oil giant, according to Rania Nashar, Deputy Chairman of Samba Capital.

As for the subscription channel, Samba Capital revealed in a recent statement that 38.26% of subscriptions came through internet banking, followed by 35.14% in the bank’s branches, and 24.76% through automated teller machines (ATMs), while 1.85% of subscribers used phone banking.

It is worth noting that the last day of subscription for the retail tranche is Thursday 28 November.