S. Arabia raises $12.35b from Aramco

Saudi Arabia has successfully secured $12.35 billion through a secondary share sale of Aramco, exercising an over-allotment option, as per a document seen by Reuters.

This milestone marks the conclusion of extensive efforts spanning years to divest another portion of one of the globe’s most valuable firms, following its historic IPO in 2019.

The transaction aligns with the kingdom’s strategic goals of bolstering funds for advancing its economic diversification initiative.

Attribution: Reuters