Saudi Aramco plans to launch second listing, says Crown Prince

28/01/2021 Argaam

The second listing of Saudi Aramco could happen as part of the plans to raise funds for the Public Investment Fund, its sovereign-wealth fund, Crown Prince Mohammed bin Salman said during the Future Investment Initiative (FII) summit today, Jan. 28.

 

“This will yield a cash flow transferred to the PIF to be reinvested domestically and internationally for the benefit Saudi citizens,” he stated.

 

The Crown Prince said that many of the fund’s assets are valued at zero, such as NEOM, Red Sea, Qiddiya, and dozens of other assets.

 

Hence, it would not be difficult for the PIF to raise the value of its assets to SAR 4 trillion.

 

Saudi Aramco started trading on the Saudi Stock Exchange (Tadawul) on Dec. 11, 2020. The giant oil producer raised SAR 446 billion from the retail and institutional tranches, with the IPO being 465% oversubscribed.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.