Last Update 10:57
Monday, 16 December 2019

Saudi Aramco to sell small stake on Riyadh exchange

AP , Sunday 17 Nov 2019
Share/Bookmark
Views: 1743
Share/Bookmark
Views: 1743

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.

Search Keywords:
Short link:

 

Latest

© 2010 Ahram Online.