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Saudi Arabia to announce major share sale in Aramco
Written By: Landmarc News Express
- Updated Thursday May 30 2024
Saudi Arabia to announce major share sale in Aramco
Aramco, which has been the largest company in the world in terms of market capitalization is expected to announce a major share sale worth around $10 billion.
The Saudi Arabian state owned oil company had IPO’d in 2019 which raised almost $30 billion dollars against 1.5% of the outstanding shares of the company.
The current market capitalization of the company is $1.7 trillion and profits in the past year were above $110 billion with dividend payouts amounting to around $98 billion.
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