 |
Louisiana Light • 1 day | 86.49 | -0.63 | -0.72% | ||
|
Bonny Light • 1 day | 89.32 | +0.45 | +0.51% | ||
|
Opec Basket • 1 day | 88.45 | +1.94 | +2.24% | ||
|
Mars US • 174 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 10 mins | 2.726 | -0.008 | -0.30% |
|
Bonny Light • 1 day | 89.32 | +0.45 | +0.51% | ||
|
Girassol • 1 day | 89.90 | +0.45 | +0.50% | ||
|
Opec Basket • 1 day | 88.45 | +1.94 | +2.24% |
|
Peace Sour • 10 hours | 76.01 | -0.55 | -0.72% | ||
|
Light Sour Blend • 10 hours | 79.06 | -0.55 | -0.69% | ||
|
Syncrude Sweet Premium • 10 hours | 86.01 | -0.55 | -0.64% | ||
|
Central Alberta • 10 hours | 76.41 | -0.55 | -0.71% |
|
Eagle Ford • 1 day | 79.29 | -0.04 | -0.05% | ||
|
Oklahoma Sweet • 1 day | 79.25 | -0.50 | -0.63% | ||
|
Kansas Common • 2 days | 73.50 | +0.50 | +0.68% | ||
|
Buena Vista • 3 days | 87.02 | -0.29 | -0.33% |
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Saudi Sovereign Wealth Fund Considers Sale Of $90 Billion Aramco Stake
Saudi Arabia’s sovereign wealth fund is reportedly looking into ways to monetise its around $90 billion (£66.7 billion) stake in Aramco, the world’s largest oil company.
The Public Investment Fund is weighing its options, Bloomberg first reported, as Saudi Aramco seeks funds to pursue its ambitious investment plans.
The Fund, which currently owns around a four percent stake in Aramco, has been inviting advisers to pitch options.
Avenues currently on the table include a full or partial sale of the holding or raising capital by pledging the stock against loans or convertible debt instruments, according to people familiar with the matter.
It comes as Aramco’s shares surged 4.2 percent to a record high of $11.26 (£8.41) per share today, as oil prices breached the $100 a barrel mark after Russia officially invaded Ukraine.
The talks are still in their early stages, the people added.
Though discussions arrive just weeks after the Saudi government, which owns 94 percent of Aramco, transferred the stake over to the Fund and come amid reports that officials are mulling a new stock offering, after the oil giant’s successful market debut in 2019.
Aramco, reported to be worth an eye-watering $1.9 trillion (£1.4 trillion), raised nearly $30 billion (£22.2 billion) via the float.
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By City AM
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CityAM.com is the online presence of City A.M., London's first free daily business newspaper. Both platforms cover financial and business news as well as sport and…
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