Saudi Aramco Share Offering Planned for June

Saudi Aramco Share Offering Planned for June

Arabian Post -Arabian Post Staff-Dubai Saudi Arabia is reportedly considering a multi-billion dollar stock sale of energy giant Saudi Aramco as early as June. This potential sale could be one of the biggest stock offerings ever witnessed in the Middle East. Details surrounding the offering are still being finalized, but sources familiar with the matter say it could raise around $10 billion. The offering comes as Saudi Arabia pushes […]

via Saudi Aramco Share Offering Planned for JuneArabian Post -Arabian Post Staff-Dubai

Saudi Arabia is reportedly considering a multi-billion dollar stock sale of energy giant Saudi Aramco as early as June. This potential sale could be one of the biggest stock offerings ever witnessed in the Middle East. Details surrounding the offering are still being finalized, but sources familiar with the matter say it could raise around $10 billion.

The offering comes as Saudi Arabia pushes forward with its ambitious economic diversification plan, Vision 2030. This initiative aims to lessen the kingdom’s reliance on oil and foster growth in non-oil sectors. While the Saudi government still holds a significant majority stake in Aramco, at roughly 90%, selling additional shares could bring in revenue to fund these economic diversification goals.

The planned