DUBAI, July 10 (Reuters) - Saudi Arabia raised a total

of $12.35 billion from selling more shares in Aramco,

after increasing the offering in the world's most valuable oil

company, a document seen by Reuters showed.

The success of the share sale and additional proceeds will

help further fuel Saudi Arabia's ambitions to invest in new

industries and wean its economy away from oil under its Vision

2030 plan.

The kingdom raised an additional $1 billion after

exercising a so-called greenshoe option, according to the

document, which allows banks to place more stock when there is

demand from investors.

The government last month sold a 0.64% stake, or about 1.545

billion shares, in Aramco at 27.25 riyals ($7.27) a share.

Another 154.5 million shares were placed via Merrill Lynch,

which was acting as a stabilization manager on the deal.

Aramco's shares have risen 3.3 percent since the offering

last month, trading at 28.15 riyals.

In the document, published late on Tuesday, Merrill Lynch

said it exercised the over-allotment option and that the

month-long stabilization period ended with no such transactions

undertaken.

($1 = 3.7506 riyals)