Saudi Arabia plans Aramco share sale as soon as June, sources say
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Saudi Arabia plans Aramco share sale as soon as June, sources say


Reuters – Saudi Arabia is planning a multi-billion-dollar share sale in energy giant Aramco as soon as June in what would be one of the region’s biggest stock deals, two people familiar with the matter said.
The offering could raise around $10 billion, one of the people said. The preparations are ongoing and the details could still change, the sources said, who were speaking on condition of anonymity because the matter is private.

The shares will be listed in Riyadh and it will be a fully marketed offering rather than an accelerated sale over a few days, they added.
“Decisions about share sales are matters for our shareholders and are not something we are able to comment on,” Aramco said. The government’s communication office did not immediately respond to a request for comment.

Banks including Citigroup Goldman Sachs and HSBC had previously been lined up to manage the sale, Reuters has reported.

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