08/12/2019
Asharqia Chamber: pumping about half a trillion riyals into Aramco IPO a historic event, and exceptional confidence.
Al-Khaldi: Aramco launched an enhancement of the reliability of the Kingdom's 2030 vision
The Chairman of the Asharqia Chamber, Abdul-Hakim bin Hamad Al-Ammar Al-Khaldi, said that the popularity of the Saudi Aramco company witnessed a wide turnout, whether from the segment of individuals or institutions. In his inputs, and a strong indication of the readiness of the Saudi stock market to organize and launch such huge IPOs.
The total applications in Aramco IPOs amounted to 446 billion riyals (individuals and institutions), or nearly half a trillion riyals, equivalent to $ 119 billion, making it the largest subscription of its kind in the history of the global economy, as it was closed by collecting more than 4.5 times the value of the basic offering.
Al-Khaldi emphasized that the levels of the large turnout received by the subscription are a strong indication of the strength and durability of the Saudi economy, subscribers' confidence and the efficiency of the stock market, pointing to the great diversity between the local investor base.
Al-Khaldi expected that the Saudi economy will embark on a new stage of development and openness to investments in both its foreign and domestic sectors, which require the business sector to be fully prepared for it and begin to develop strategic plans to deal with this development and openness, saying: (It is beside the great success achieved by Aramco’s underwriting and its positive implications. On the national economy, the remarkable improvement of the business environment since the beginning of the vision of ( 2030 ) has played a significant role in enhancing the confidence of local and foreign investors in the future of the national economy), which indicates that it is on its way to be one of the most attractive destinations for investments in the world. , Pointing out that thanks to the accelerated pace of the achievements of the vision and accelerate the pace and measures to diversify the economic base, the Saudi economy has become the focus of attention of investors in many countries.
