Reported 4 months ago
Saudi Arabia is planning to sell up to $12 billion worth of shares in its state-owned oil company, Saudi Aramco, in an effort to raise funds for economic transformation initiatives. The sale, scheduled to start on June 2, will include 1.545 billion shares, with a price range expected between 26.70 and 29.00 Saudi riyals per share. The offering aims to attract global investors and support the kingdom's diversification efforts away from oil under Crown Prince Mohammed bin Salman's leadership.
Source: YAHOO