JEDDAH: Saudi Aramco announced that it has received an additional notice from Goldman Sachs Saudi Arabia, the stabilizing manager, with regard to the initial public offering (IPO) of the issued shares (the offering) to convey the second announcement during the price stability period, the Saudi Press Agency (SPA) reported on Tuesday.
Aramco said in a statement that this announcement comes further to its Dec. 10 and Dec. 17 announcements, and that it conveys that no price stabilization transaction has been implemented yet.
The price stability period is expected to end by close of day on Jan. 9, 2020. The price stability period for Aramco’s IPO was set to take place from Dec. 11, 2019, to Jan. 9, 2020.
Goldman Sachs had announced that it might carry out the process of price stability for securities as per the instructions for organizing the price stability mechanism for IPOs.