Aramco mulls fresh listing worth up to $50bn: press
Saudi Arabia is planning to raise up to $50bn by listing more shares in national oil company Saudi Aramco, the Wall Street Journal reported on February 4, citing sources.
At current valuations, that sum would correspond to a 2.5% stake in Aramco. Discussions have taken place internally and with outside advisors on selling extra stock sold on the Riyadh stock exchange and a secondary listing, possibly in London, Singapore or another venue, WSJ said.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
The sale is still at a planning stage, according to the newspaper, and arrangements could be delayed or changed.
Aramco went public in December 2019 in one of the largest ever initial public offerings. Some $25.6bn was raised from the sale of a 1.5% stake in the company, but this represented a scaled-down version of the original plan, which was to sell 5% for as much as $100bn.