November 21, 2019 / 2:06 PM / 24 days ago

Saudi Aramco IPO's institutional tranche receives $17 bln in orders -Al Arabiya

DUBAI, Nov 21 (Reuters) - The institutional tranche of Saudi Aramco’s initial public offering (IPO) has received more than 64 billion riyals ($17.1 billion) in orders, Saudi-owned news channel Al-Arabiya said on Thursday, citing a banking source.

The retail portion of the planned deal had received 10 billion riyals, it also said.

Saudi Aramco plans meetings with investors in Dubai next week, sources previously told Reuters, as it seeks to raise up to $25.6 billion for what it is expected to be the world’s biggest share sale. ($1 = 3.7501 riyals) (Reporting by Sylvia Westall Writing by Davide Barbuscia Editing by David Goodman)

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