Saudi Aramco Plans $20 Billion Secondary Stock Sale
World's largest oil company to sell additional shares as Saudi Arabia seeks funds for economic diversification.
Saudi Aramco is planning a secondary share sale worth approximately $20 billion, which would be one of the largest equity offerings in history.
The offering is part of Saudi Arabia's efforts to fund its Vision 2030 economic diversification program, including massive projects like the futuristic city of Neom.
"This demonstrates continued strong investor appetite for Aramco," said a banking source familiar with the deal. "The company's dividend yield and cash flows remain highly attractive."
The sale would reduce the Saudi government's stake in Aramco slightly while raising significant capital for the kingdom's ambitious development plans.
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