Less than a quarter, or 23 percent, of the institutional portion of Saudi Aramco’s initial public offering went to non-Saudi investors, the head of Investment Banking at National Commercial Bank, Wassim al-Khatib, told Al Arabiya news channel on Monday. The Saudi Public Pension Agency was allocated shares which equal 11.5 percent of the institutional tranche of the IPO, al-Khatib said. Following the largest IPO in history, Saudi Aramco’s shares will be listed and start trading on the main market of the Saudi oil exchange on Wednesday, December 11 , the Saudi Stock Exchange, Tadawul, said last Friday. On Thursday, Saudi Aramco announced the final offer price for the offering. Saudi Arabia’s state oil giant priced its IPO at the top end of the range—32 Saudi riyals ($8.53), which made the share listing the largest in history , surpassing the US$25-billion IPO of Alibaba on the New York Stock Exchange […]