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A maze of crude oil pipes and valves pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, on June 9, 2016. Reuters/Richard Carson
State-owned oil company Saudi Aramco said on Sunday it raised the size of its initial public offering (IPO) to a record $29.4 billion by way of a so-called “greenshoe option.”
Also known as overallotment, a greenshoe lets a company issue more shares when demand is high during an IPO.
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
