News summary
Saudi Aramco plans to list in Riyadh in Junepokerchips, or raise $10 billionpokerchipsThe details change.
Newsletter text
Saudi Aramco prepares to go public in June: Oil giant Saudi Aramco plans to sell billions of dollars worth of shares in June, raising about $10 billion, according to people familiar with the matter. The sale plan is under intense preparation and details may change. Shares will be fully listed on Riyadh's market rather than accelerating selling in the short term.
The share sale is expected to raise funds through Saudi Aramco's listing. The company will launch a full-market offering on the Riyadh Stock Exchange rather than choosing a fast-selling strategy. Saudi Aramco's stock listing plan is a major move by Saudi state-owned oil company and part of a bid to raise funds to diversify the country's economy.
Market analysts are paying close attention to this development and believe it may have a significant impact on Saudi Aramco's stock value. Any changes to the sale plan and its details could have a significant impact on investor decision-making in the secondary market.