Saudi to have '1-year restriction' on selling more Aramco shares after IPO

Pedro Gonçalves
clock • 2 min read

The Saudi government will face a year-long restriction on selling additional shares of Saudi Aramco following its IPO, according to media reports. Citing three sources familiar with the matter, Reuters reported that the government is looking to list 2% of the company on the Saudi bourse, instead of the entire share capital. Normally public companies list the entire share capital on the exchange and have a portion of that as free float. Aramco announced a domestic IPO on Sunday. In a statement, the firm said that Aramco and the selling shareholder will be subject to restrictions on ...

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