"The 450 million shares subject to the over-allotment option had been allocated to investors during the bookbuilding process and therefore, no additional shares are being offered into the market today," the company explained in a statement to the
The size of the stake moved to 1.725 percent, up from 1.5 percent, of the worth of the company.
In December, the company announced it raised
At the close of trading Sunday on the
This gives the company an overall valuation of
The IPO relied heavily on individuals and high-net worth investors and funds from the Gulf, with the Saudi government institutions investing almost
The kingdom had originally expected to raise up to
"We expect PIF's investment focus to be mainly domestic, which could help non-oil growth,"Fitch Ratings said in a note issued before the company's listing.
The previous IPO record was set by Chinese e-commerce company Alibaba's IPO in 2014 at
Aramco, which accounts for one in every eight barrels of crude produced, declared a profit of
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