Saudi Aramco to sell small stake on Riyadh exchange

By The Canadian Press
November 17, 2019 - 2:01am

RIYADH, Saudi Arabia — 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.

The Associated Press

In the House impeachment drama, Russia still plays big role

Join the Discussion

paNOW is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules: Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, share your knowledge, and please suggest removal of comments that violate these standards. See full commenting rules.