Saudi Arabia to raise $11.2B in lower-priced Aramco share offer ...Kuwait

Saudi Arabia is poised to raise more than $11.2 billion from its secondary offering of oil giant Aramco's shares, after pricing them towards the lower end of a price range at 27.25 riyals ($7.27), people familiar with the matter told news agency Reuters on Friday. Aramco's book was covered four to five times near the bottom of the price range of 26.7 to 29 riyals, one of the people said. Aramco did not immediately give a comment. The Saudi government communications office did not immediately respond either. Foreign investment, which has repeatedly missed targets, is a key plank of Saudi de facto ruler Crown Prince Mohammed bin Salman's plan to diversify the economy aw

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Last updated : 07 June 2024 clock 11:56 AM

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Saudi Arabia to raise $11.2B in lower-priced Aramco share offer ...Kuwait

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