Dubai lucky draw: Kerala man wins Rs 7.59 crore; NRI wins BMW motorbike

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

Riyadh, Apr 20: Six more people have died in Saudi Arabia after contracting coronavirus as 1,122 new coronavirus cases were reported on Monday.

The Saudi health ministry said that total number of cases in the Kingdom had increased to 10,484. It also recorded 92 new recoveries, raising the total to 1,490.

The ministry said precautionary measures shall remain to limit the virus spread.

Kuwait City, Jul 19: Kuwaiti ruler Sheikh Sabah al-Ahmad al-Jaber al-Sabah has successfully undergone surgery early on Sunday, the emir's office said.

"His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah ... has undergone surgery this morning, with thanks to God for its success," the head of the emir's office Sheikh Ali Jarrah al-Sabah said, as quoted by state news agency KUNA.

The 91-year-old was admitted to hospital for a medical checkup.

Yesterday, a royal order was issued assigning Crown Prince Sheikh Nawaf al-Ahmed al-Sabah, the emir's designated successor, "to take over some constitutional jurisdictions of His Highness the Emir temporarily"

In August 2019, Kuwait acknowledged the emir suffered an unspecified medical "setback" that required him to be hospitalised.