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International Business Times
International Business Times
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Robbie COREY-BOULET and Haitham El-Tabei

Oil Giant Aramco To Offer Shares Worth Over $10 Bn On Saudi Bourse

Aramco Oil Saudi Aramco Justin Alexander Mohammed bin Salman PIF Saudi Arabia Neom
(FILES) This picture shows Aramco tower at the King Abdullah Financial District (KAFD) in Riyadh on April 16, 2023. Oil giant Saudi Aramco said on May 7, 2024 that its first-quarter net profit dipped 14.5 percent on year to $27.27 billion as the Gulf kingdom kept production cuts in place. (Credit: AFP)

Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than $10 billion in one of the biggest such offerings in recent years.

In a statement posted to the Saudi stock exchange, Aramco announced a "secondary public offering of 1.545 billion shares", with an expected price range between 26.70 and 29 Saudi riyals ($7 to $7.70).

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