March 07, 2024 BY Simon Mugo
Saudi Arabia Boosts the PIF Fund With an 8% Aramco Stake Transfer
In 2022, the PIF directly acquired a 4% stake in Aramco and another 4% indirectly through Sanabil, a wholly-owned subsidiary of PIF. Reuters' reports suggested that Saudi Arabia might be considering selling additional Aramco shares further to support the financing of its ambitious Vision 2030 program. Aramco's initial public offering, which occurred before the pandemic,…
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