https://arab.news/cv3ju
RIYADH: Saudi energy giant Aramco is launching a series of events in London and the US aiming to generate interest in its $12 billion share sale, according to Bloomberg.
The news agency said that Amin Nasser, Aramco’s CEO, “will be among officials attending at least one of the events in London this week,” citing people familiar with the matter.
It added that Chief Financial Officer Ziad Al-Murshed will also be present in the city over the next few days.
Simultaneously, plans are underway for a separate event in the US, hinting at the company’s keenness to tap into diverse pools of investment.
According to Bloomberg Intelligence, investors could stand to gain from a $124 billion annual payout, offering a dividend yield of 6.6 percent. This enticing proposition, despite the company’s resilient valuation and the absence of buybacks, underscored Aramco’s confidence in attracting global capital.
Post-offering, the Saudi government will retain its ownership stake of approximately 82 percent in Aramco, with the Kingdom’s sovereign wealth fund securing an additional 16 percent share.