With over-allotment of shares, Saudi Aramco raises to $29.4 billion

On Sunday, the oil company Saudi Aramco stated, that it had decided to sell an additional 450 million shares, increasing the size of its initial public offering (IPO) to a record of $29.4 billion.

In its December IPO, Aramco primarily raised a record level capital of $25.6 billion, by selling 3 billion shares at 32 riyals ($8.53) a share. However, it had specified it could sell additional stocks through the method of over-allotment o....