Announcement in connection with the launch of a secondary public offering of ordinary shares of the Saudi Arabian Oil Company (“Saudi Aramco”)

SNB Capital
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1445/11/22     30/05/2024 21:06:41

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Announcement Detail SNB Capital, in its capacity as the lead manager, Citigroup Saudi Arabia, Goldman Sachs Saudi Arabia, HSBC Saudi Arabia, J.P. Morgan Saudi Arabia Company, Merrill Lynch Kingdom of Saudi Arabia, Morgan Stanley Saudi Arabia and SNB Capital Company as Joint Financial Advisors for Saudi Arabian Oil Company ( “Saudi Aramco” or the “Company”) and Joint Global Coordinators for Saudi Aramco and The Government of the Kingdom of Saudi Arabia (the “Government”), together with Al Rajhi Capital, Riyad Capital and BSF Capital as Joint Bookrunners, and M. Klein and Company and Moelis & Company UK LLP as Independent Financial Advisors (the “IFAs”) announce the launch of a secondary public offering in Saudi Aramco shares (the “Offering”).

The Offering comprises a secondary public offering by the Government of 1.545 billion shares of the Company (the “Offer Shares”), representing approximately 0.64% of the Company’s issued shares.

The Offering period will commence on 2 June 2024. The price range for the Offer Shares is expected to be between SAR 26.70 and SAR 29.00 per share.

For the purposes of allowing the Stabilizing Manager to cover short positions resulting from any over-allotments, the Government has granted the Stabilizing Manager an option (the “Over-allotment Option”) or “greenshoe”, pursuant to which the Stabilizing Manager may purchase from the Government up to 10% of the number of Offer Shares, at the final offer price.

The number of shares to be allocated to retail investors is 154.5 million shares, representing 10% of the number of the Offer Shares (excluding shares issued pursuant to the Over-allotment Option), subject to receiving sufficient demand from retail investors.

Please refer to the attachment for more details.

Attached Documents  

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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