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The country's Cepa drive is aimed at removing unnecessary barriers to trade and improving market access for services, including the elimination or reduction of customs duties
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Saudi Aramco announces completion of secondary share sale for $11.2 billion
On Sunday, the oil giant had said that international investors had snatched up the bulk of shares sold in its latest offering
Image used for illustrative purpose. Photo: File
Saudi Aramco has completed a secondary share sale raising $11.23 billion, the oil company and the Saudi government said in a statement on Tuesday.
On Sunday, the oil giant had said that international investors had snatched up the bulk of shares sold in its latest offering.
The secondary offering was expected to provide a short-term boost to Saudi Arabia’s finances as the kingdom builds large-scale projects including resorts and stadiums, part of a reform drive to prepare for an eventual post-oil future.
Aramco had on May 30 announced that it would sell 1.545 billion shares, or approximately 0.64 per cent of its issued shares, on the Saudi stock exchange.
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