50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Saudi Arabia planning Aramco share sale as soon as June - Reuters

Published 05/27/2024, 09:21 AM
© Reuters

Investing.com -- Saudi Arabia is eyeing a multi-billion dollar share sale in state-backed energy giant Aramco (TADAWUL:2222) as soon as June, Reuters has reported, citing two people familiar with the matter.

The news agency said on Sunday that, according to one of the sources, the offering could raise around $10 billion, although the details of the move could still change.

The shares would be listed in Riyadh, Reuters reported, adding that it will be a fully marketed offering rather than an accelerated sale over the course of a few days.

Aramco has become a key source of cash payouts for the Saudi government, which controls a 90% stake in the group. Earlier this month, Aramco said it would deliver dividends worth $31 billion despite easing oil prices recently denting first-quarter earnings.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.