Saudi Aramco confirmed on 9 January that a further 450mn shares were issued at SR32 ($8.53) each under the “over-allotment option” (or “greenshoe”). This boosted the amount raised through the IPO from $25.6bn to $29.4bn (MEES, 6 December 2019), and means that the government has now floated 1.7% of the company. The Aramco IPO was already the largest in history before the release of additional shares. After the share price peaked at SR38 ($10.13) in its first few days of trading, valuing the company in excess of $2 trillion, it has since dropped and now lies at SR34.6 ($9.22), valuing the energy giant at just over $1.8 trillion.