Saudi Arabia to tap Goldman, Citi for Aramco secondary share sale: Report

08/02/2024 Argaam
Logo ofSaudi Arabian Oil Co. (Saudi Aramco)

Logo of Saudi Arabian Oil Co. (Saudi Aramco)

Saudi Arabia is set to hire banks including Citigroup Inc., Goldman Sachs Group Inc., and HSBC Holdings Plc for a secondary share sale in Aramco, Bloomberg reported, citing people familiar with the matter as saying.

 

The deal may raise about $20 billion and rank among the biggest offerings in recent years, it added.

 

The world’s biggest oil exporter is also in talks with other banks as it pulls together a roster of advisers for the offer that may come in the next few weeks, Bloomberg said.

 

Aramco stock closed Thursday's trading down by more than 1% at SAR 30.7.

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