Saudi Aramco said it plans to sell 1.545 billion shares worth more than $10 billion.
The sale on the Saudi stock exchange will commence on Sunday, Aramco said
Saudi Aramco said it plans to sell 1.545 billion shares worth more than $10 billion.
In a statement, Aramco announced a “secondary public offering of 1.545 billion shares,” with an expected price range between SR 26.70 and 29 ($7 to $7.70).
The sale on the Saudi stock exchange, which represents approximately 0.64 percent of the company’s issued shares, will commence on Sunday, Aramco said.
It is the firm’s second listing after an initial public offering in December 2019 that raised $25.6 billion, the biggest flotation in history.
Saudi Arabia is the world’s largest crude oil exporter and, before the announcement on Thursday, the government owned about 82 percent of its shares.
Yemen's Houthi leader Abdul Malik al-Houthi said on Thursday that all Saudi oil and other vital facilities would be targets for the group's missiles and drones if Riyadh escalated its involvement in the conflict.
The US State Department announced Wednesday it had approved a potential $1.96 billion arms sale to Saudi Arabia, as hostilities intensify across the Middle East.
Yemen's Houthi movement fired missiles at Saudi Arabia after accusing the kingdom of bombing an airport under their control on Monday, breaking a four-year truce in the conflict between the kingdom and the Iran-aligned group.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.