Saudi Arabia doubles sovereign fund’s stake in Aramco ...Middle East

Bloomberg News Today - News
Saudi Arabia doubles sovereign fund’s stake in Aramco
RIYADH: Saudi Arabia transferred an 8% stake in Aramco to the country’s Public Investment Fund, as the kingdom reorganises its holdings to boost the sovereign wealth fund ahead of a potential public offering in the oil giant. The stake is worth roughly $163.6 billion, according to Aramco’s market capitalisation, LSEG data shows. Saudi Arabia is poised to sell more shares in Aramco later this year, sources told Reuters last month, which could boost financing for the kingdom’s ambitious economic reform agenda known as Vision 2030. PIF declined to comment on which entities the additional shares would be transferred to. The fund has held a 4% stake in Aramco since 2022 and indirectly holds ano

Hence then, the article about saudi arabia doubles sovereign fund s stake in aramco was published today ( ) and is available on Bloomberg News Today ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Saudi Arabia doubles sovereign fund’s stake in Aramco )

Apple Storegoogle play

Last updated :

Also on site :