Saudi Arabia is reportedly considering selling an additional stake in Saudi Aramco in February, aiming to raise at least SR40 billion ($10 billion) on the Saudi stock exchange, according to sources cited by Bloomberg. The move follows the world’s largest-ever stock sale in 2019 when the Kingdom raised about $30 billion in Aramco’s initial public offering. The potential sale aligns with Saudi Arabia’s broader Vision 2030 plans, focusing on economic diversification away from oil and promoting non-oil sectors.
While no final decision has been made on the timing of the share sale, the move underscores the Kingdom’s commitment to further opening its prized national asset to public investment. Currently, the Saudi government holds a 90.19 percent stake in Aramco, with the sovereign Public Investment Fund and its subsidiary Sanabil holding 4 percent each. Aramco, the world’s largest oil exporter with a market value exceeding $2 trillion, plays a pivotal role in Saudi Arabia’s economic transformation efforts. The sale aims to bolster the country’s finances, support non-oil sectors, and advance its ambitious Vision 2030 goals.