Saudi Aramco IPO's institutional tranche said to be oversubscribed

Saudi Aramco IPO's institutional tranche said to be oversubscribed

REUTERS/Ahmed Jadallah

The institutional tranche of Saudi Aramco’s initial public offering (IPO) has been oversubscribed while the retail portion has received a little more than 10 billion riyals ($2.67 billion) in orders so far, a banking source told Reuters.