Saudi Arabia Set to Launch $10 Billion Aramco Offer Sunday
- Stock offering attracted informal interest across Middle East
- MBS is trying to diversify Saudi economy away from oil
This article is for subscribers only.
Saudi Arabia is preparing to formally launch a secondary offering of shares in oil giant Aramco as soon as Sunday, a deal that could raise more than $10 billion and rank among the largest of its kind in recent years.
The government plans to run a book-building process to take orders until next Thursday, people familiar with the matter said, asking not to be identified as the information is private. The deal has attracted informal interest from investors across the Mideast and Europe totaling over $10 billion, they said.