Saudi Arabia may sell 1% of Saudi Aramco to foreign investors

According to Bloomberg News on April 28, Saudi Arabia’s Crown Prince Mohammed bin Salman said that in anticipation of economic recovery after the new crown epidemic, the country is selling its 1% stake in the state-run oil giant Saudi Aramco.

The crown prince said: “Currently, it is negotiating to acquire a 1% stake in Saudi Aramco by a major global energy company.

In an interview on the fifth anniversary of the release of "Vision 2030" on Saudi National Television, the crown prince said: "We are currently negotiating with other companies on different equity, and some of Saudi Aramco's shares may also be transferred to the (Saudi) public investment fund and.

In 2019, Saudi Aramco conducted the world's largest IPO on the Saudi Stock Exchange, issuing approximately 2% of its shares and raising nearly US$30 billion.

Zhan Legan, translated from Bloomberg

The original text is as follows:

Riyadh may sell 1% of Saudi Aramco to foreign investor

Saudi Arabia's Crown Prince Mohammad bin Salman Al Saud has said the kingdom is in talks to sell a 1% stake in state oil giant Saudi Aramco amid the projected economic recovery following the coronavirus pandemic, Bloomberg reported.

"There are talks now for the acquisition of a 1% stake by a leading global energy company in an important deal that would boost Aramco's sales in .

　　"There are talks with other companies for different stakes, and part of Aramco's shares could be transferred to the (Saudi) Public Investment Fund and a part listed .

　　In 2019, Saudi Aramco conducted the world's largest IPO, as a result of which it placed about 2% of shares and raised almost $ 30 billion.