Saudi Aramco to Sell $11 Billion in Shares to Fund Diversification

The sale aims to support Saudi Arabia's Vision 2030 and reduce economic reliance on oil.

Saudi Aramco will offer 1.545 billion shares, expected to raise between $11 and $13 billion.
This is the first share sale since Aramco's 2019 IPO, which raised nearly $30 billion.
The proceeds will likely go to Saudi Arabia's Public Investment Fund for ambitious projects.
Saudi Arabia is under pressure to diversify its economy amid fluctuating oil prices.
The sale coincides with an OPEC+ meeting to decide on oil production levels for the year.