Saudi Aramco Shares Set to Surge with $7.27 Pricing

Saudi Arabia is set to price shares of its state oil giant, Aramco, at 27.25 Riyals ($7.27) each. Sources revealed that Aramco's book was covered 4-5 times at this price range's bottom. The offering marks a significant event in the global oil sector.

Saudi Arabia is poised to price shares in the offering of its state oil giant Aramco at 27.25 Riyals ($7.27) a piece, people familiar with the matter told Reuters on Friday.

Aramco's book was covered 4-5 times at the bottom of the price range, one person said. ($1 = 3.7504 riyals)