Saudi Arabia to tap Goldman, Citi for Aramco secondary share sale: Report

08/02/2024 Argaam

Saudi Arabia to tap Goldman, Citi for Aramco secondary share sale: Report

Logo of Saudi Arabian Oil Co. (Saudi Aramco)

Saudi Arabia is set to hire banks including Citigroup Inc., Goldman Sachs Group Inc., and HSBC Holdings Plc for a secondary share sale in Aramco, Bloomberg reported, citing people familiar with the matter as saying.

 

The deal may raise about $20 billion and rank among the biggest offerings in recent years, it added.

 

The world’s biggest oil exporter is also in talks with other banks as it pulls together a roster of advisers for the offer that may come in the next few weeks, Bloomberg said.

 

Aramco stock closed Thursday's trading down by more than 1% at SAR 30.7.

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