DUBAI: Saudi Aramco is looking to sell up to 0.5 per cent of the state oil giant to retail investors in its planned initial public offering , three sources familiar with the matter told Reuters.
Assuming Aramco achieves a total valuation of US$2 trillion, the retail tranche could be worth around US$10 billion, the sources said on Saturday. And the government has encouraged investors to repatriate cash held overseas to buy into the IPO to avoid draining too much liquidity from the Saudi banking system, they said.
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