Saudi Arabia sets new test for international interest with $13.1 bln Aramco sale
SUMMARY
Saudi Arabia is launching a significant share sale of up to $13.1 billion in its energy titan Aramco, marking a pivotal moment for international investor engagement. With orders accepted from May 31 to June 6 and pricing set for June 7, the offering, dubbed Project Bond, signals a crucial step in broadening investor participation post-Aramco's 2019 IPO. The sale, earmarked for 0.7% of Aramco with 10% reserved for retail investors, underscores Saudi's push for economic diversification. Despite past concerns over valuation and energy transition, Aramco's enticing dividends could attract buyers, primarily Saudis, amid tepid foreign interest in other mega-projects.
