Energy

Now is ‘perfect time’ for a second Saudi Aramco listing: Former exec

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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

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