Non-Saudi investors get 23% of Aramco IPO institutional tranche

FILE PHOTO: The logo of Aramco is seen as security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed/File Photo

RIYADH (Reuters) - Non-Saudi investors in oil giant Saudi Aramco’s initial public offering have been allocated 23.1% of the institutional tranche, one of the lead banks working on the transaction said on Tuesday.

Saudi government institutions were allocated 13.2% of the institutional tranche, Samba Capital added in a statement. Saudi corporates snapped up the biggest percentage of allocations at 37.5%.

The final value of the overall institutional tranche was 397 billion riyals ($105.86 billion), it said.

Reporting by Marwa Rashad and Davide Barbuscia; editing by Jason Neely