Reported 6 months ago
Saudi Aramco's stock offering will raise at least $11.2 billion for Riyadh, marking the largest deal globally in about three years and supporting Saudi Arabia's economic transformation efforts. The government will sell 1.55 billion shares at a 6% discount, with proceeds aiding Crown Prince Mohammed Bin Salman's diversification plans. Demand for shares was strong, particularly from foreign investors, and the offering reflects a shift towards attracting more international participation compared to Aramco's 2019 IPO.
Source: YAHOO