The Saudi Arabian Oil Company (Aramco) has announced that the free stock entitlement period is (180 days), referred to in Section 1-18-6 of the IPO prospectus. Issued by the company on November 9, 2019 (prospectus), it ended at the end of trading on Sunday, June 7, 2020.

According to the company’s statement to the Saudi market (Tadawul) today, Monday, as mentioned in the prospectus, every qualified Saudi subscriber kept the IPO shares continuously and uninterruptedly until the end of Tadawul yesterday ( End of the entitlement period for free shares) one additional bonus share will be obtained for every 10 shares allocated from the offering shares, provided that the number of these bonus shares does not exceed a maximum of 100 bonus shares, as these bonus shares will be granted and allocated through the shares owned by the government (Seller shareholder) of the company.

The bonus shares will be transferred to the investment portfolios of the eligible individual investors as soon as possible - as determined by the government - within a maximum period of 75 calendar days from the end of the vesting period of the bonus shares.

Aramco will announce the date of transfer of these shares when it is determined by the shareholder selling to Tadawul at the time.

granting free shares will not transfer the rights related to them to the individual investor due except from the date of transfer to his investment portfolio.

Aramco shares were traded on (Tadawul) on December 11, 2019, within the energy sector, through a public offering that is the largest in the history of global financial markets.

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Saudi Aramco announced the final price for the offering of 1.5% of its shares in the Saudi market at 32 riyals per share.