Saudi Aramco to sell 1.5 pc of shares on local stock exchange

Moscow: Saudi Arabia’s state oil company Saudi Aramco announced on Sunday that it planned to sell 1.5 percent of its company shares on the local Saudi stock exchange, the Tadawul, for the price of USD 8- to USD 8.5 per share.

The much-anticipated move will make a total of about 3 billion shares available, making Saudi Aramco’s initial public offering worth up to USD 25.6 billion.

The final share price will be announced on December 5.

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