Saudi Aramco to Sell Small Stake on Riyadh ExchangeSource: www.export-egypt.com 11/17/2019, Location: Middle East |
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Saudi Arabia's state oil giant Saudi Aramco is going to sell a 1.5% stake in its company on Riyadh's stock exchange.
That's according to documents released on Sunday by the company. The company says it will have 200 billion regular shares. A 1.5% stake in the company would be around 3 billion shares. It put the price range of its stock up to 32 Saudi riyals, or $8.50. That 1.5% stake, at that top price, would raise as much as 104 billion Saudi riyals, over $27.7 billion. Its low-end range was 30 Saudi riyals, or $8. That 1.5% stake, at that price, would raise as much as 90 billion Saudi riyals, about $24 billion. That would put the overall valuation of the company between $1.6 trillion and $1.7 trillion. |
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