Daily Management Review

Saudi Arabia to float additional Saudi Aramco shares


Saudi Arabia may introduce more Saudi Aramco shares on the exchange in Riyadh, reports Bloomberg.

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Defense Visual Information Distribution Service
According to Bloomberg, who cited reliable sources, Saudi Arabia is considering placing additional shares of its state-owned oil major Saudi Aramco on the Riyadh Stock Exchange.

The monarchy is reportedly considering this option with the help of a number of advisors, and a decision might be taken in the next few weeks. According to sources, any agreement for the placement of more Saudi Aramco shares could grow to be one of the biggest ever made.

The agency's interlocutors also pointed out that no decisions have been made about the precise size of the proposed purchase, and Saudi Arabia may decide against the concept of placing further shares in Saudi Aramco if it thinks the market is unfavorable. According to Bloomberg, Saudi Arabia would get more than $20 billion from a 1% offer.

source: bloomberg.com