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SAUDI ARAMCO IS LOOKING TO RAISE AN ADDITIONAL $50 BILLION

SAUDI ARAMCO IS LOOKING TO RAISE AN ADDITIONAL $50 BILLION

The oil giant is discussing what would be the largest sale of shares ever made on the markets according to information from the Wall Street Journal, which mentions the amount of 50 billion dollars and a possible secondary listing in London or Singapore.

According to the Wall Street Journal , Saudi Arabia intends to take advantage of the surge in oil prices, which have reached peaks since 2014, to achieve the largest fundraising in history. Sources close to Saudi Aramco, the world's 3rd largest company in terms of market valuation at almost $2 trillion, have in fact indicated that the oil giant has the ambition to sell $50 billion of its shares, which which would represent approximately 2.5% of the capital at the current price.

Saudi Aramco would thus steal the record from ... itself, when it had raised 29.4 billion dollars on the Tadawul, the star index of the Riyadh Stock Exchange, by selling only 1.5% of its capital during its introduced in December 2019.

The leaders of the oil giant would have consulted advisers for this massive sale of additional shares, which would take place both in Riyadh and in a second financial center where the group would enter on this occasion. This could be London or Singapore, again according to the sources.

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