Logo design of Saudi Arabian Oil Co. (Saudi Aramco)
Saudi Arabia is set to employ banks consisting of Citigroup Inc., Goldman Sachs Group Inc. and HSBC Holdings Plc for a secondary share sale in AramcoBloomberg reported, pointing out individuals acquainted with the matter as stating.
The offer might raise about $20 billion and rank amongst the greatest offerings in the last few years, it included.
The world’s most significant oil exporter is likewise in talks with other banks as it gathers a lineup of consultants for the deal that might be available in the next couple of weeks, Bloomberg stated.
Aramco stock closed Thursday’s trading down by more than 1% at SAR 30.7.