Sources told Reuters that major Chinese investors, including CIC and Chinese national oil companies, are in talks to purchase a stake in Saudi Aramco, while the company is preparing to sell another portion to international investors. Recently, Saudi Crown Prince Mohammed bin Salman revealed that Saudi Arabia is considering selling 1% of Aramco to a leading global energy company and may sell additional shares, some to international investors, within a year or two. The value of a 1% stake is expected to be around $19 billion, based on Aramco's current market value.
In an interview with Al Arabiya, Mazen Al-Sudairy, head of research at Al Rajhi Capital, confirmed that Aramco's IPO was primarily aimed at enhancing the company's transparency and governance, thereby increasing its revenues and solidifying its leadership among major companies worldwide. Al-Sudairy explained that what Crown Prince Mohammed bin Salman presented in a recent televised interview, which summarized the achievements of the past five years since the launch of Vision 2030, reflects the firm strategic stance on Aramco's IPO and emphasizes the continued global perspective on this important offering in diversifying the Kingdom's income sources. He noted that Aramco achieved, in a single fiscal quarter, what covers its distributions four times, something no major oil company in the world has achieved, and thus the strategic vision will continue to govern the direction for offering more shares of Aramco, after the Crown Prince revealed discussions regarding the issuance of additional stakes during his interview.
