Saudi Aramco IPO oversubscribed so far, but not by big margin
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RIYADH/LONDON (Reuters) - Saudi Aramco's initial public offering (IPO) was on course to be oversubscribed but not by a huge margin, according to figures released so far by the lead manager before a Dec. 4 close for institutional investors to submit offers.Bids received by Friday from institutional and retail investors totalled $44.3 billion (34.5 billion pounds), lead manager Samba Capital said, about 1.7 times the value Saudi Arabia aims to raise from selling a 1.5% stake in the state-owned oil..