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Saudi Arabia's Oil Giant Aramco to Sell Small Stake on Riyadh's Stock Exchange

Saudi Arabia's Oil Giant Aramco to Sell Small Stake on Riyadh's Stock Exchange

The company says it will have 200 billion regular shares. A 1.5% stake in the company would be around 3 billion shares.

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Riyadh: 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.

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