 "Saudi Aramco")
Saudi Aramco is considering selling a stake worth as much as $50 billion through a secondary share offering on the Riyadh bourse after consultations with advisers, the Wall Street Journal reported on Friday.
The sale could happen before the end of the year, the report said, adding that Aramco has been “sounding out” potential investors, about participating in the deal.
The Kingdom has decided to host any new Aramco offering on the Riyadh exchange to avoid legal risks associated with an international listing, the report said, citing Saudi officials and other people familiar with the plan. Saudi Aramco did not respond to a Reuters' request for comment.
Saudi Aramco is the world's biggest oil company, with a market value of $2.25 trillion. Its shares have risen 19.6 per cent this year. It completed the world’s largest initial public offering in late 2019, raising $25.6 billion and later selling more shares to raise the total to $29.4 billion.
