Reported 5 months ago
Saudi Arabia is reportedly planning a multi-billion-dollar share sale in energy giant Aramco as early as June, aiming to raise around $10 billion in one of the region's largest stock deals. The offering will be a fully marketed one in Riyadh, with banks like Citigroup, Goldman Sachs, and HSBC lined up to manage the sale. This move aligns with Saudi Arabia's Vision 2030 economic transition, focusing on expanding the private sector and non-oil growth. Aramco, which expects to pay $31 billion in dividends despite lower earnings, remains predominantly owned by the Saudi government.
Source: YAHOO