https://arab.news/jeg9a
RIYADH: Saudi Arabia’s sovereign wealth fund started exploring options for monetizing its recent $86-billion stake transfer from Saudi Aramco, Bloomberg reported, citing unnamed sources.
The Public Investment Fund, or PIF, has recently acquired a four percent stake in the oil giant, for which potential advisors are weighing potential ways to capitalize on the holding, the news agency said.
These include “raising money by pledging the stock against the issue of convertible debt instruments or loans,” Bloomberg reported, adding that PIF did not make any final decision on how it will utilize the funds.
PIF declined to comment to Bloomberg on the news.
Shares in oil giant Aramco soared to their highest level since listing of SR40.55 ($10.8) on Wednesday yielding a market value of as much as $2.2 trillion.