Reported 4 months ago
Saudi Arabia is preparing for a secondary offering of shares in Aramco, aiming to raise over $10 billion, one of the largest in recent years. The deal is set to begin this Sunday, with the government planning to run a book-building process until next Thursday. The share offering may be priced at a 10% discount, and banks like Citigroup, Goldman Sachs, and HSBC are expected to be involved. The proceeds will support Saudi Arabia's economic transformation initiatives led by Crown Prince Mohammed bin Salman.
Source: YAHOO