Saudi Aramco IPO secures orders worth $38 billion from institutions
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DUBAI (Reuters) - Saudi Aramco has received orders worth 144.1 billion riyals (£29.95 billion) for the institutional tranche of its planned initial public offering (IPO), its financial advisers said in a joint statement on Monday.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 for..