Saudi Aramco's IPO retail subscription at $8.7 billion - lead manager
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RIYADH (Reuters) - Retail subscription for Saudi Aramco's initial public offering (IPO) reached 32.57 billion Saudi riyals (£6.77 billion) on Monday, lead manager Samba Capital said.The state-owned oil giant plans to sell 1.5% of the company, or about 3 billion shares, at an indicative price range of 30 riyals to 32 riyals, valuing the IPO at as much as 96 billion riyals ($25.6 billion) and giving the company a market value of between $1.6 trillion and $1.7 trillion.