News wire — Saudi Arabia is planning to list more shares in Aramco and is targeting a stake sale of as much as $50 billion, the Wall Street Journal reported on Friday, citing people familiar with the oil giant’s strategy.
The state-owned company has held talks with outside advisers about selling more shares on the Riyadh stock exchange as well as a secondary listing, possibly in London, Singapore or other exchanges, the report said, a
dding that it was still in the planning stage.
Aramco, which listed in Riyadh in December 2019 and currently has a market value of $1.97 trillion, did not immediately respond to a Reuters request for comment.
- Reuters (Reporting by Yadarisa Shabong in Bengaluru; Editing by Vinay Dwivedi)
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