Saudi Arabia to Raise $11.2 Billion from Aramco Stock Sale
Proceeds to support Crown Prince Mohammed bin Salman's Vision 2030 economic transformation plan
- The offering priced at 27.25 Saudi riyals per share, a 6% discount from the last closing price.
- The sale attracted significant interest from foreign investors, oversubscribed within hours.
- Funds will aid in financing large-scale infrastructure projects under Vision 2030.
- Despite declining oil prices, Aramco's dividend yield remains a key attraction for investors.
- The Saudi government will retain majority ownership post-sale, holding over 82% of shares.
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