Reported 9 months ago
Saudi Arabian oil company Aramco announced a new stock issuance on June 6, aiming to raise $11.2 billion for economic diversification. Despite the initial pricing at the lower end of the range, subscriptions were robust, with nearly 60% from international investors, leading to a 2.7% stock price increase and a positive outlook for Saudi Arabia's future. This issuance is seen as a step towards attracting international investors and supporting Saudi Arabia's economic transformation goals, despite challenges from low oil prices and a push towards green energy globally.
Source: YAHOO