Aramco Retail Investors Must Bid at Top End of IPO Price Range
Aramco Retail Investors Must Bid at Top End of IPO Price Range
(Bloomberg) -- Retail investors in the world’s biggest IPO will have to bid at the top end of the price range.
Saudi Aramco will set the final price for all investors based on institutional investors’ book-building process, according to a statement. If the final offer price is lower than the top end, retail investors will have the option to get additional shares or a refund.
The price range will be announced on Nov. 17 and the final price on Dec. 5.
--With assistance from Filipe Pacheco.
To contact the reporters on this story: Shaji Mathew in Dubai at shajimathew@bloomberg.net;Matthew Martin in Dubai at mmartin128@bloomberg.net
To contact the editors responsible for this story: Shaji Mathew at shajimathew@bloomberg.net, Claudia Maedler, Stefania Bianchi
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