Saudi Arabia Studies Proposal for Aramco Shares

Bloomberg News reported today, citing informed sources, that Saudi Arabia's plans for another multi-billion dollar share offering in Aramco are gaining momentum. Saudi Arabia remains the largest shareholder in Aramco, the world's largest oil company, with a 90.18 percent stake. Crown Prince Mohammed bin Salman stated in 2021 that it is likely more shares of the company will be sold. Aramco's shares were listed on the Saudi stock exchange in late 2019, raising $25.6 billion in the initial public offering, and later sold more shares to increase the total to $29.4 billion. The Saudi Public Investment Fund holds a 4 percent stake in Aramco, while a subsidiary of the fund owns an additional 4 percent stake.