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.
The Egyptian government has successfully completed its second sovereign sukuk issuance, valued at $1 billion, as part of its broader strategy to diversify financing tools and investor bases.
Gulf states, home to multiple U.S. military bases, were on high alert on Sunday after U.S. strikes on Iran raised the possibility of a widening conflict in the region.
The United Arab Emirates has announced the creation of a new Ministry of Foreign Trade, as part of its efforts to strengthen its position in the global economy and diversify its trade partnerships.
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.