Aramco, Saudi Arabia's state-controlled oil company, is considering offering $50B in shares, which would be the largest offering in the history of global capital markets, according to unnamed Wall Street Journal sources.
No official date has been set, if it happens at all, but the offering is expected to take place before the end of 2023.
If the offering proceeds, it would be listed on the Riyadh stock exchange to avoid legal risks associated with an international listing.
Aramco is the world's most valuable oil company. In March, the company announced a record-breaking $161B in profit, making it the highest net income ever recorded by an energy company. (Press Rundown 08/31/23) Aramco of Saudi Arabia reportedly considering $50B stock sale, potentially largest ever (pressrundown.com)
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