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.
Chinese Premier Li Qiang’s visit to Egypt marks a major diplomatic milestone in strengthening China-Egypt ties, said Chinese Ambassador to Egypt Liu Licheng in a statement issued Wednesday.
Saudi Arabia's Crown Prince Mohammed bin Salman met Iranian Foreign Minister Abbas Araqchi in Jeddah on Tuesday, in the first visit by the Iranian official to the Gulf kingdom since Tehran's air war with Israel.
Saudi Arabia and Indonesia signed several deals and memos of understanding worth around $27 billion between private sector institutions in several fields including clean energy and petrochemicals, the Saudi state news agency SPA reported on Wednesday.
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