Home Industry Finance Saudi Arabia raises $12bn from Aramco’s share sale The government sold a 0.64 per cent stake in Aramco last month, with an additional 154 million shares available for stabilising manager Merrill Lynch by Reuters July 10, 2024 Image credit: Saudi Aramco Saudi Arabia has raised a total of $12.35bn from a secondary share sale in Aramco after the state oil giant exercised an over-allotment option, a document seen by Reuters showed. The deal is the culmination of a years-long effort to sell another chunk of one of the world’s most valuable companies after Aramco’s record-setting initial public offering in 2019. It comes as the kingdom seeks to generate more funds to advance its economic diversification plan, “Vision 2030”. Read: Saudi Aramco returns to debt market with three-tranche dollar bond sale Tags aramco Initial Public Offering Merrill Lynch Saudi Arabia Secondary offering You might also like How UK firms can revolutionise the GCC’s construction and sustainable infrastructure sector Parkin, BATIC to explore smart parking solutions in Saudi Arabia Money20/20 Middle East to debut in Riyadh in Sept 2025 Riyadh Metro opens green, red lines as network nears full completion
