Aramco plans world's biggest share sale at $50 billion: Report

Saudi Arabia would raise funds off its biggest asset, and use them to develop new industries

Saudi Arabia is planning to list more shares in Aramco and is targeting a stake sale of as much as $50 billion, the Wall Street Journal reported on Friday, citing people familiar with the oil giant’s strategy.

The state-owned company has held talks with outside advisers about selling more shares on the Riyadh stock exchange as well as a secondary listing, possibly in London, Singapore or other exchanges, the report said, adding that it was still in the planning stage.

Aramco, which listed in Riyadh in December 2019 and currently has a market value of $1.97 trillion, did not immediately respond to