Saudi Arabia set to raise over $11.2 billion from Aramco stock sale, priced at lower end of range
Publishing timestamp: 2024-06-07 08:17:58
Summary
Saudi Aramco prices shares at lower end of range in secondary offering, raising over $11 billion for Saudi government. Despite global oil price pressures, demand for shares remains strong due to company's significant dividend payouts. Proceeds will provide relief to Saudi government financing high-cost infrastructure projects under Vision 2030 economic diversification program.
Sentiment: MIXED
Keywords: economy, breaking news: economy, exxon mobil corp, breaking news: markets, chevron corp, saudi arabia, oil and gas, dividends, business news, markets,