Also worth noting, the real signal is how much of that demand holds after listing. Retail oversubscription looks strong, but the real test is post-trade price stability.
Actual retail allocation announced Friday will likely be only a fraction of that figure. Aramco raised $29.4 billion in actual capital, while SpaceX is reportedly raising $75 billion. Relevant comparisons, but the record here is the level of retail demand, not the amount of capital raised.