Saudi Arabia Is Considering a $10 Billion Aramco Share Sale ...Middle East

OILPRICE - Economy
Saudi Arabia Is Considering a $10 Billion Aramco Share Sale
source : OILPRICE ( Middle East ) () 31
Saudi Arabia is working with advisers to revive a new sale of stock in oil giant Aramco on the domestic market and looks to raise at least $10 billion from the follow-up offering, anonymous sources with knowledge of the plans told Bloomberg on Wednesday. Currently, Saudi Arabia owns just over 98% of Aramco after selling 1.7% in the initial public offering (IPO) in December 2019. Of the 98% held by the Kingdom, the Saudi government owns 90% of Aramco, while the sovereign wealth fund owns the other 8%.   The Saudis initially aimed to list…

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