Institutional tranche of Saudi Aramco IPO 2.95 times oversubscribed

Institutional tranche of Saudi Aramco IPO 2.95 times oversubscribed

REUTERS/Hamad I Mohammed/File Photo

The institutional tranche of Saudi Aramco’s planned initial public offering (IPO) has been almost three times oversubscribed, receiving orders worth 189.04 billion riyals ($50.4 billion), financial advisers for the IPO said on Tuesday.