What percentage of Aramco is the Saudi government selling?

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Saudi Government Sells Approximately 0.64 Per Cent Stake in Aramco

The Saudi government is selling a stake of approximately 0.64 per cent in the oil giant Aramco. This offering could be increased to 0.7 per cent of the company if a greenshoe option is exercised, potentially raising over US$12.36 billion. The pricing of the shares was set at 27.25 riyals, which is about RM34.13, towards the lower end of the initial price range.
Offering Size and Potential Upsize

The current offering involves selling a roughly 0.64 per cent stake in Aramco. If market conditions are favourable and the greenshoe option is exercised by the underwriters, the total stake sold could expand to 0.7 per cent. This greenshoe option is a mechanism that allows for the stabilisation of share prices during an offering.
Pricing and Valuation

The shares were priced at 27.25 riyals per share, a move that places them near the bottom of the previously indicated price range of 26.7 to 29 riyals. This pricing translates to a valuation of approximately US$1.76 trillion for Aramco, representing a discount of nearly 4 per cent compared to its closing share price on the previous day. The total value of the stake being sold is expected to exceed US$11.2 billion.
Strategic Context and Investor Appetite

This share sale is a component of Saudi Arabia's Vision 2030 plan, which aims to diversify the kingdom's economy away from oil and attract foreign investment. The offering serves as a barometer for the kingdom's success in drawing overseas capital, although the extent to which it will stimulate international investor interest remains to be seen. Previous offerings, including Aramco's 2019 initial public offering, have faced challenges with lukewarm international demand.

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What percentage of Aramco is the Saudi government selling?

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