Saudi Aramco may sell more shares if market conditions are right: PIF

Saudi Aramco’s shareholders may consider selling more shares of the company if market conditions are right, the head of the kingdom’s sovereign wealth fund (PIF), Yasir al-Rumayyan, said on Tuesday in a televised news briefing.

The Saudi government sold over 1.7% stake in Aramco in an initial public offering (IPO) in 2019 that raised a record $29.4 billion.

The listing has triggered more IPOs in the kingdom, which is also seeking to deepen its capital markets under reforms aimed at reducing its reliance on oil.

By Yousef Saba and Saeed Azhar

Gh Extractives is an independent multimedia portal that seeks to provide credible information and news content to readers especially players in the extractive sector in Ghana, Africa and beyond. It also provides a unique platform for players in the energy sector to market their products and reach a wider audience

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