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15 days ago

Saudi Arabia raises $12.35b from Aramco’s share sale

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Saudi Arabia has raised a total of $12.35 billion from a secondary share sale in Aramco, after the Saudi oil giant exercised an over-allotment option.

According to Reuters, the deal is the culmination of a years-long effort to sell another chunk in one of the world's most valuable companies after its record-setting IPO in 2019.

It comes as the kingdom seeks to generate more funds to push ahead with it economic diversification plan known as "Vision 2030".

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