The Kingdom of Saudi Arabia is poised to raise at least $11.2 billion from the ongoing secondary offering of shares in Saudi oil giant Aramco, Bloomberg reported on Friday, citing anonymous sources with knowledge of the matter. The Saudi government is expected to sell the 1.545 billion shares of Aramco on offer, or about 0.
64% of the company’s issued shares, at $7.27 (27.25 Saudi riyals) per share, according to Bloomberg’s sources. Aramco has set a price range of between 26.70 and 29 riyals apiece in the offering. …Saudis To Raise At Least $11.2 Billion from Aramco’s Share Sale
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