Saudi Arabia: Business Deal Saudi Aramco May Sell 1 % Stake to Global Energy Company
In a recent television interview, the Crown Prince Mohammed Bin Salman of Saudi Arabia stated that the country is in talks to sell 1 % stake in the state-owned oil major Saudi Aramco to a leading energy company.
Dhahran/Saudi Arabia – Saudi Aramco is one of the biggest oil producers in the world and the Crown Prince of Saudi Arabia Mohammed Bin Salman has gone on record and mentioned that the country is currently in discussions to sell 1 % stake in the mega oil firm to a leading energy company. Without revealing any details, he said, “I don’t want to give any promises but there’s a discussion to acquire a 1 % stake by a pioneering energy company.” He further commented that if the deal gets finalized, it will help to enhance Aramco’s sales in the country where the acquiring company resides.
In December 2019, the company went public on the stock exchange in what was called ‘the world's largest-ever IPO (initial public offering)’ and raised a record 25.6 billion dollars by selling 3 billion shares at 8.53 dollars. Later on, the oil giant raised the IPO to a record 29.4 billion dollars through the Greenshoe option (this option allows companies to issue more shares in an IPO when there is greater demand from participants during the initial offering.)