Free shares yes you heard it right! The Saudi Company Aramco will start distributing free shares today Monday, June 8, 2020. Due to the outbreak of Covid-19 many companies had a great loss. And many stock markets crashed and the stock prices went low. So, Aramco also decided to sell there shares to cope up the loss.
Who will Receive them?
Free shares will be given only to those who have reserved them since the purchase of the shares and have not made any transaction in this regard. The free share distribution program is not for companies and institutions but for the general public.
How Many can One Receive?
According to the sources,
One (1) share will be given for free on ten (10) shares. Each person who has reserved shares for 180 days will be given a maximum of 100 shares for free. Aramco had earlier announced that those who bought shares from anyone after the completion of the shares’ operation would not be given free shares.
Is there any Terms and Conditions?
The free shares were offered only to those who purchased shares directly from Aramco and reserved their shares for 180 days.
Have they Sold any Shares Earlier?
Aramco sold the first bar shares in its history six (6) months ago. It should be noted that Saudi Arabia oil company Aramco had offered 1.5 percent shares for sale in November 2019. Read more: Procedure of Buying ARAMCO shares through online system
What is the Total Cost of the Shares?
Aramco had clarified in the statement that the total capital of the company is 60 billion riyals which has been divided into 200 billion shares while only three (3) billion shares were sold in the stock market.
Internationally many companies decided earlier to sell their shares and where able to gain a huge profit. It’s a new experience for Aramco as for the first time the general public would be involved in the event. Let’s hope that Aramco get a huge public turnover at the day of sales. May his corona situation die soon and the routine work could be done and further economic loss would be prevented. Read more: Aramco Announces to Decrease in Fuel Price for May 2020