S. Arabia in talks to sell 1% of Aramco - MbS

Wednesday, 28. April 2021 10:08

Saudi Crown Prince Mohammed bin Salman said on Wednesday that the country is in talks with a "leading global energy company" about selling a 1% stake in state oil company Saudi Aramco.

"I don’t want to give any promises, but there’s a discussion for the acquisition of a 1% stake by a leading global energy company," the crown prince, known as MbS, told Al-Arabiya. "That will be a great deal to enhance the sales of Aramco in the country where this company (is from)," he added, noting it is from a "huge" country.

MbS also noted there are ongoing talks with other companies, as well as that a part of Aramco shares may be transferred to the kingdom’s sovereign wealth fund, the Public Investment Fund. He added that Aramco, which listed around 1.5% of its shares on in the world's largest IPO in 2019, could also list more shares on the Saudi exchange.

Related Links: Saudi Aramco
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Breaking the News / NP