Crown prince says Saudi Arabia to sell more shares of energy giant Aramco

Aramco declares dividend of $18.75 billion in Q3

Saudi Crown Prince Mohammed bin Salman said Thursday the kingdom will sell more shares of energy giant Aramco in the coming years, following the world’s biggest public listing in 2019, the AFP reported.

“There will be Aramco share offerings in the coming years, and this cash will be transferred to… the Public Investment Fund to be re-injected inside and outside the kingdom,” Prince Mohammed told Riyadh’s Future Investment Initiative (FII) conference in a virtual session.

The prince did not specify a timeframe or what portion of the company’s shares will be sold in future offerings.

Aramco was listed on the Saudi bourse in December 2019 following the world’s biggest initial public offering, generating $29.4 billion for 1.7 percent of its shares.