Home Industry Energy Saudi Arabia set to raise over $11.2bn from Aramco stock offering The state-owned energy firm’s bankers have told investors it plans to price the shares at $7.27 (SAR27.25) each by Reuters June 7, 2024 Image credit: Saudi Aramco Saudi Arabia is set to raise more than $11.2bn after pricing its offering of Aramco stock toward the lower end of the targeted range, the Wall Street Journal reported on Thursday. Aramco’s bankers have told investors it plans to price the shares at $7.27 (SAR27.25) each, according to the report. The stake sale, a first since Aramco’s record-setting IPO in 2019, was announced last week in a landmark deal to help fund Crown Prince and Prime Minister Mohammed bin Salman’s plan to diversify the economy. The stock closed at SAR28.30 on Thursday. Read: OPEC+ could revise oil supply deal if needed, ministers say Tags aramco energy Saudi Arabia Share sale You might also like How UK firms can revolutionise the GCC’s construction and sustainable infrastructure sector ENOC, Drive Terra to launch UAE’s largest battery swapping network Parkin, BATIC to explore smart parking solutions in Saudi Arabia ADNOC’s XRG, bp close deal to launch new natural gas JV
