Appetite high for Aramco’s $10bn second listing
- Date: 05-Feb-2024
- Source: AGBI
- Sector:Oil & Gas
- Country:Saudi Arabia
Appetite high for Aramco’s $10bn second listing
Now is the right time for the Saudi state oil company Aramco to follow through on its much-anticipated second share listing, industry experts have said. Observers believe that growing international investor appetite for the region’s stock markets makes the timing attractive. However, geopolitical regional tensions, concerns about global oil demand, and high interest rates could […]
Aramco’s second listing planned
Could raise SAR40bn
Regional tensions may weigh
Now is the right time for the Saudi state oil company Aramco to follow through on its much-anticipated second share listing, industry experts have said.
Observers believe that growing international investor appetite for the region’s stock markets makes the timing attractive.
However, geopolitical regional tensions, concerns about global oil demand, and high interest rates could also weigh on the listing.
Gulf markets attracting more international investors
Oil service company shares dive on Aramco decision
Aramco awards $3.3bn contract for new gas facilities
Saudi Aramco is considering raising around SAR40 billion ($10 billion) on the Riyadh stock exchange, as early as this month, according to Bloomberg sources.
The proceeds would be transferred to the kingdom’s sovereign wealth fund to finance the diversification of the local economy.
The Saudi government holds about 90 percent of Aramco, and the Public Investment Fund owns a further 8 percent.
The oil