Saudi Arabia set to raise $11.2 billion selling Aramco shares at lower end of expectations

DUBAI, June 7 (Reuters) – Saudi Arabia is poised to raise more than $11.2 billion selling shares in oil giant Aramco (2222.SE), opens new tab to help fund its spending plans, after pricing the stock at the lower end of expectations, the company said on Friday.

Aramco shares were priced at 27.25 riyals ($7.27), near the bottom of a 26.7-to-29 riyals range used in marketing the sale.

The offering was covered four to five times, a person familiar with the matter said.