Aramco Preparing To Sell Shares Worth $10 Billion

Reuters quoted informed sources as saying that Saudi Arabia’s oil giant intends to sell shares worth $10 billion in Aramco in June at the earliest.

The sources pointed out that this offering will be one of the largest stock deals in the region, noting that the matter is confidential, but preparations are underway and the details may change.

The source added that these shares are scheduled to be listed on the Riyadh Stock Exchange, to be preceded by promotional rounds and a complete marketing process, rather than being offered quickly over the course of a few days.

Aramco announced the distribution of basic dividends to shareholders for the first quarter of 2024, at a value of 76.10 billion riyals, at 0.3145 riyals per share, in line with the company’s dividend policy, which aims to distribute sustainable and increasing profits.