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Saudi Aramco institutional bids amount to 189.04 bln riyals in first 17 days

Wednesday, 4 December 2019

Saudi Aramco has received orders worth 189.04 billion riyals ($50.4 billion) for the institutional tranche of its planned initial public offering (IPO), its financial advisers said in a joint statement on Tuesday. The institutional book building began on November 17 and investors have until December 4 to place orders. Aramco plans to sell 1.5 percent of its shares, in a deal which could raise up to $25.6 billion. The Saudi oil giant has received subscription orders from institutional buyers for ...

Saudi cement stocks shine as billion-dollar projects take off

Monday, 2 December 2019

Saudi Arabia’s cement makers are making big gains on the Saudi Stock Exchange (Tadawul) thanks to higher prices and planned mega projects beginning to gain momentum.City Cement, one of the top ten gainers on the Saudi Stock Exchange (Tadawul), is up 79 percent this year, followed by Yamama Cement and Qassim Cement, up 73 percent each.The stocks of two of the country’s largest producers - Yanbu Cement and Saudi Cement Co – have gained about 44 percent apiece to Sunday’s ...

Saudi exchange to limit Aramco index weighting with cap

Monday, 2 December 2019

Saudi Arabia’s Tadawul said on Monday that it has introduced an equity index cap of 15 percent, a move which will address concerns over the weighting Saudi Aramco will have when it lists on the exchange. The move was made to “to reduce dominance of larger companies on the index performance so that the weights of all index constituents remain under a set capping threshold,” the Tadawul said in a statement. In most stock market indexes, the stocks are weighted according to their ...

Saudi Aramco IPO gets $44.3 bln in bids so far: Samba

Friday, 29 November 2019

Saudi Aramco has received bids for its shares totaling $44.3 billion so far, lead manager Samba Capital said on Friday, putting its initial public offering on track to be over-subscribed. The state-owned oil giant plans to sell 1.5% of the company’s shares for as much as 96 billion riyals ($25.6 billion), a deal which would give it a market value of $1.7 trillion. Overall demand so far totals 1.7 times the amount of shares on offer, with institutional investors having until Dec 4 to put ...

Aramco IPO completes retail portion oversubscribed, $12.64 bln in orders: Samba

Friday, 29 November 2019

Saudi Aramco completed the retail portion of its initial public offering (IPO) with 47.4 billion riyals ($12.64 billion) in orders on Thursday, according to Samba Capital, the IPO’s lead manager. The energy giant is offering 1.5 percent, or three billion, of the company’s shares on the Saudi Stock Exchange (Tadawul) at an indicative price range of 30-32 riyals ($8-$8.53). A third of those shares, 0.5 percent, are allocated to retail, or individual investors. At the higher end of this ...

Aramco IPO retail subscription oversubscribed, $10.16 billion in orders: Samba

Thursday, 28 November 2019

Retail subscriptions to Saudi Aramco’s initial public offering (IPO) reached 38.1 billion riyals ($10.16 billion) as of midday Thursday, according to Samba Capital, the IPO’s lead manager. Aramco is offering 1.5 percent of the company’s shares on the Saudi Stock Exchange (Tadawul) at an indicative price range of 30-32 riyals ($8-$8.53). A third of those shares, 0.5 percent, is allocated to retail, or individual investors. Midnight Thursday is the final deadline for investment ...

Markets Brief: Aramco retail fully sold, Manchester City sells stake, oil cuts

Thursday, 28 November 2019

The retail portion of Saudi Aramco’s initial public offering (IPO) is now fully subscribed, according to Samba Capital, the lead manager of the deal. Meanwhile, Manchester City’s owners City Football Group announce the conclusion of a $500 million investment deal. Egyptian pharmaceutical firm Rameda also provided its own IPO news with an announcement that it would float 49 percent of its shares on the country’s stock exchange.Al Arabiya English has provided a news brief on all ...

Saudi Aramco IPO institutional portion oversubscribed 1.1 times so far: Source

Wednesday, 27 November 2019

The institutional portion of Saudi Aramco’s initial public offering (IPO) is said to be 1.1 times oversubscribed so far, a banking source told Al Arabiya English on Wednesday. Based on Al Arabiya English’s calculations, this means the IPO has received about 70.4 billion riyals ($18.77 billion) in orders for the institutional tranche, up from $17.1 billion on November 21. The deadline to subscribe for institutional investors is December 4, while the deadline for retail investors is ...

Islamic Development Bank set to raise 1 bln euro in green sukuk

Wednesday, 27 November 2019

Jeddah-based Islamic Development Bank is set to raise 1 billion euro ($1.10 billion) through five-year “green” sukuk, or Islamic bonds, a document showed on Wednesday. The triple-A rated financial institution is offering investors 28 basis points over mid-swaps for the debt sale. Green bonds are a growing category of fixed-income securities, and green sukuk could widen the appeal of Islamic bonds beyond traditional markets in Asia and the Middle East to include ethical investors in ...

Egypt’s Rameda Pharmaceutical to float 49 pct stake on EGX

Wednesday, 27 November 2019

Egypt’s Rameda Pharmaceutical said on Wednesday it would float 49 percent of its shares on the Egyptian stock exchange to raise up to 1.755 billion pounds ($109 million) and expects to start trading on December 11. The shares, which will be offered in two tranches, will have a price per share of 4.66 pounds, according to the prospectus published in Egyptian newspapers. One tranche, representing a 5 percent stake, will be sold to small investors in a public offering. Rameda, which was ...

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