Daily Management Review

Saudi Arabia plans Saudi Aramco SPO


The Saudi authorities may put additional stakes in state-owned oil and gas company Saudi Aramco on the market in the coming years.

Aero Icarus
Aero Icarus
This could happen if conditions are right, told Crown Prince Mohammed bin Salman of Saudi Arabia at Future Investment Initiative conference on Thursday.

Saudi Aramco was listed on the Saudi stock exchange in December 2019 after the world's largest initial public offering (IPO), raising $29.4 billion from the sale of 1.7% of its shares.

"There will be new Saudi Aramco IPOs in the coming years as part of a plan to invest these funds in a public investment fund to re-position them inside and outside the kingdom for the benefit of the fund," the prince said.

He said this would be one notable source of revenue for the public investment fund, doubling its revenues to $1.1 trillion within five years.

source: reuters.com