Saudi Aramco's Landmark Share Sale: A New Era for Economic Diversification

Saudi Arabia is selling shares in oil giant Saudi Aramco at 27.25 riyals ($7.27) per share, marking the first sale since its record IPO in 2019. This move aims to support Crown Prince Mohammed bin Salman's plan to diversify the economy.

Saudi Arabia's share sale in oil-gaint Saudi Aramco will be priced at 27.25 riyals ($7.27) per share, the company said on Friday.

The stake sale, a first since Aramco's record-setting IPO in 2019, was announced last week in a landmark deal to help fund Crown Prince Mohammed bin Salman's plan to diversify the economy. ($1 = 3.7504 riyals)