Institutional investors have subscribed for 6.3 billion shares for Aramco IPO so far - lead bank

Riyadh (Reuters) - Saudi Aramco has received orders worth 189.04 billion riyals (£39.28 billion) for the institutional tranche of its planned initial public offering (IPO), its financial advisers said in a joint statement on Tuesday.The institutional bookbuilding began on Nov. 17 and investors have until Dec. 4 to place orders. Aramco plans to sell 1.5% of its shares, in a deal which could raise up to $25.6 billion.The Saudi oil giant has received subscription orders from institutional buyers..