Crown prince pushes next Aramco share sale

摘要

Saudi Crown Prince Mohammad bin Salman is pursuing plans to further monetise state-controlled Saudi Aramco to fund a drive to diversify the Saudi economy. Having raised almost $30bn from an initial public offering (IPO) of 1.7pc of Aramco’s equity in late 2019, with the proceeds turned over to sovereign wealth fund PIF, the crown prince says discussions are under way to sell a 1pc stake to a large foreign investor. Riyadh still owns a controlling stake of just over 98pc.