Aramco is considering selling $50 billion of its shares.
According to Al-Mayadin, the American newspaper Wall Street Journal reported that Saudi Aramco is considering selling shares worth $50 billion through a secondary offering of shares in the Saudi market after consulting with advisers.
The stake sale could take place before the end of the year and Aramco is weighing the views of potential investors such as other multinational oil companies and sovereign wealth funds about participating in the deal, the report said.
The report of the American newspaper quoted Saudi officials and sources familiar with the plan as saying: Saudi Arabia has decided that any new offer for Aramco will be made through the country’s stock market to avoid any legal risk associated with any international listing. .
According to this newspaper, Saudi Arabia had previously planned to sell $50 billion worth of Aramco shares last year, but abandoned it after seeing unfavorable market conditions.
Saudi Aramco has not yet responded to the Wall Street Journal’s report.
American news agency Bloomberg reported last May, citing informed sources, that Saudi Arabia’s plans to offer additional Aramco shares worth billions of dollars are gaining new momentum, and any deal to sell these shares would be one of the largest investment proposals in the world in recent years. will be.
The report adds that Saudi Arabia is consulting with a number of advisers to investigate the feasibility of listing additional Aramco shares on the Riyadh Stock Exchange.
Saudi Aramco, with a market value of $2.25 trillion, is the world’s largest oil company, and its shares have increased by 19.6 percent this year.
