Half of Aramco share sale allocated to foreign investors

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Half of Aramco share sale allocated to foreign investors

DUBAI - Saudi Arabia placed over half of an $11.2 billion share sale in Aramco with foreign investors, two people with knowledge of the matter told Reuters on Saturday.

Aramco said on Friday shares were priced at 27.25 riyals after the company set a price range of 26.70-29.00 riyals.As a result of the transaction, more than 120 new international investors will be added to Aramco, one of the sources said. Saudi de facto ruler Crown Prince Mohammed bin Salman's Vision 2030 is funding endeavours as diverse as electric vehicles to build futuristic cities in the desert, mainly via its Public Investment Fund .

 

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