Reported 6 months ago
Saudi Arabia's offer of a portion of Aramco worth up to $12 billion is one of the top global share sales since the oil giant’s 2019 IPO. The potential deal could be the sixth-largest share sale following the IPO, with the kingdom possibly adding $1.2 billion through an option to sell more shares. The proceeds will support economic diversification efforts, including ventures in AI, sports, and Neom, as Saudi seeks to attract foreign investment and balance its budget amid low oil prices.
Source: YAHOO