The Saudi government is set to raise as much as $13bn through a new offering of shares in energy giant Aramco next month, to help fund its ambitious Vision 2030 economic reform program. In a 30 May announcement, Aramco says that 1.545bn shares (0.64% of issued shares) are to be offered, with the offering to be launched on 2 June.

“This builds on the success we have had since our IPO in 2019,” CEO Amin Nasser told media on 30 May. “It offers both current and new investors an opportunity to be part of an ongoing journey, where we have consistently delivered both value and growth to our shareholders.” (CONTINUED - 803 WORDS)