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On its second day of trading, Saudi Aramco represented over 85% of the traded value on Tadawul, Saudi's domestic exchange. The exchange was opened to foreign investors for the first time in January 2019.
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The roughly 1.5% offering of Aramco shares on the Tadawul (the actual figure could be slightly higher if options are exercised to sell additional shares in the face of an over-subscribed offering) is the largest IPO ever. And raising just under $30 billion, it provides much-needed funds for Saudi national transformation efforts,
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