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Saudi Arabia is reportedly restarting plans to list more shares of state oil giant Saudi Aramco, with recent reports saying the kingdom wants to sell as much as $50 billion, or 2.5% of the company.
Executives are said to be weighing the sale of more shares, in what would be its largest sale ever, on the Saudi Tadawul as well as a secondary listing in London or Singapore, the Wall Street Journal reported on Friday. Aramco has so far declined to comment on those plans.
In 2019, the company raised $29.4 billion after a historic first listing that saw it float 1.5% of its shares on the domestic market.
Since then, energy markets have seen dramatic turbulence with the onset of the coronavirus…
Source cnbc.com
