Saudi Arabia to Kick off Aramco Stock Sale of Up to $12 Billion

Saudi Arabia’s government announced its plan to sell a portion of its stake in oil giant Aramco. The sale is expected to raise between $11 billion to $11.95 billion. Aramco, also known as Saudi Arabian Oil Co., confirmed that the government will sell shares representing about 0.64% of the company. The sale has garnered significant attention in the financial world.

Saudi Arabia’s government confirmed its plan to sell a portion of its stake in oil giant Aramco valued at up to $11.95 billion. Aramco, formally known as Saudi Arabian Oil Co., stated that the government aims to sell shares representing a stake of about 0.64%, raising between $11 billion and $11.95 billion. The sale is expected to attract considerable attention from investors.