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FinancialNews
29-04-21
Saudi Arabia plans to sell 1 percent stake in Saudi Aramco
(MENAFN)According to Crown Prince Mohammed bin Salman, Saudi Arabia is planning to sell a 1 percent stake in Saudi Aramco.
There were plans to sell a 1 percent stake in the world's biggest national oil company, stated the crown prince in a TV interview to mark the fifth anniversary of the Saudi Vision 2030 strategy.
The Liwan Al Mudaifer Show on Rotana Khalijiya TV quoted him as saying that "There are other discussions on the way for buying different shares, part of the shares of Aramco will be transformed to the Public Investment Fund and others will also be for the Saudi market."
The Aramco initial public offering in 2019 was a foundation of the Kingdom's economic diversification program that plans to increase foreign investment. It coincided with disturbance in global energy markets that obliged many global oil majors to rethink their businesses.
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