The Wall Street Journal

Saudi Arabia to raise billions in fresh Aramco stock sale

Saudi Arabia to raise billions in fresh Aramco stock sale
Aramco is the world's most valuable oil company. (Image: Bloomberg)
The Wall Street Journal
By Ben Dummett Saudi Arabia is likely to announce as soon as this week plans to sell US$10 billion (NZ$16.2b) to US$20b worth of stock in Aramco, its crown jewel and the world’s most valuable oil company, according to people familiar with the matter.The long-awaited offering, if it proceeds, would alleviate near-term pressure on the kingdom to raise funds. Saudi Arabia has a slew of mega projects, including a new city and a global airline, all aimed at diversifying the economy beyond oil. The country supersized a US$12b debt sal...

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