Saudi Aramco to Sell $10-$20 Billion Worth of Shares in New Offering
Wednesday, 29 May 2024, 11:04
Saudi Aramco Plans Multibillion-dollar Share Offering
Saudi Aramco, one of the world's largest oil companies, is considering a major share offering totaling $10-$20 billion. This strategic move aims to raise capital amidst the kingdom's ambitious investment plans.
Opportune Timing Amid Revenue Challenges
The proposed share sale coincides with a period of heightened spending on megaprojects in Saudi Arabia, and a decline in oil revenue. This move could provide a much-needed financial boost for the state-controlled oil giant.
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