Saudi Aramco Plans $50bn Stake Sale in New Share Listing

Saudi Arabia is planning to list more shares in Aramco and is targeting a stake sale of as much as $50 billion, The Wall Street Journal reported on Friday, citing people familiar with the oil giant’s strategy.

The state-owned company has held talks with outside advisers about selling more shares on the Riyadh stock exchange as well as a secondary listing, possibly in London, Singapore or other exchanges, the report said, adding that it was still in the planning stage. Aramco listed in Riyadh in December 2019 and currently has a market value of $1.97 trillion.

Read the full report: The Wall Street Journal

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.