Saudi Arabia may announce landmark Aramco share sale soon: Report
Hindustan TimesSaudi Arabia may announce a landmark secondary share offering in oil giant Aramco later on Thursday, pending final approval from Crown Prince Mohammed bin Salman, people with knowledge of the matter said. Aramco share sale: The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France. The share offering on Riyadh's Saudi Exchange, which the sources said is expected to be launched on Sunday, is the culmination of a years-long effort to sell another chunk in one of the world's most valuable companies after its record-setting IPO in 2019 raised $29.4 billion. Since the IPO, Aramco has continued to be a cash cow for the Saudi government as it finances a mammoth economic drive to end its "oil addiction", as the crown prince once called it.