Saudi Aramco’s mega stock offering will raise at least $11.2 billion for Riyadh, the biggest such deal globally in about three years that will help fund a multitrillion-dollar push to transform the economy.

The government will sell almost 1.55 billion shares for 27.25 riyals ($7.27) apiece, according to a statement. That’s a 6% discount to the stock’s last close before the deal was announced, in line with the average for offers of a similar size over the past decade.