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Why Saudi Arabia Wants To Sell More Of Its Oil Giant By Cyril Widdershoven - Jan 28, 2021, 6:00 PM CST
Saudi Aramco, the world’s largest oil company, is about to make headlines again. In a surprise statement by Saudi Crown Prince Mohammed bin Salman during an interview at the Future Investment Initiative (FII), also called the “Davos in the Desert”, the crown prince claimed that there will be more shares of Aramco up for sale in the coming years. MBS’s statement was surprising not only for its content but also for its timing. While global stock exchanges are suffering, the Saudi crown prince is hinting at a potential multi-billion share sale. Analysts are still trying to understand the decision, with the oil and gas industry struggling as it is at the moment. But you can be sure that the hype around the oil giant’s next offering will now begin to build. The unexpected success of the Aramco IPO in 2019, bringing in a staggering $25.6 billion, wi
Saudi Arabia’s Crown Prince Mohammed bin Salman, the kingdom’s de facto ruler, on Thursday said that Saudi Aramco will sell more shares as part of plans to bolster the country’s main sovereign wealth fund. Aramco, the world’s biggest oil company, completed the world’s largest initial public offering in late 2019, raising $25.6 billion and later .
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