DUBAI, April 28 (Reuters) - Saudi Arabia's crown prince said
in televised remarks on Tuesday that the kingdom was in
discussions to sell 1% of state oil firm Saudi Aramco
to a leading global energy company.
Crown Prince Mohammed bin Salman said Aramco, the world's
biggest oil company which listed on the Saudi bourse in late
2019, could sell further shares including to international
investors within the next year or two.
"There are talks now for the acquisition of a 1% stake by a
leading global energy company in an important deal that would
boost Aramco's sales in ... a major country," he said, without
"There are talks with other companies for different stakes,
and part of Aramco's shares could be transferred to the (Saudi)
Public Investment Fund and a part listed ... on the Saudi
bourse," he said in an interview aired by Saudi TV marking the
fifth anniversary of Vision 2030.
The Aramco initial public offering in 2019 was seen as a
pillar of the economic diversification programme aimed at
attracting foreign investment.
Aramco raised $25.6 billion in the IPO and later sold more
shares under a "greenshoe option" to raise the total to $29.4
The crown prince in 2016 announced a plan to raise as much
as $100 billion via an international and domestic listing of a
5% stake in Aramco. In 2017 sources said Chinese state-owned
companies PetroChina and Sinopec had written to Aramco to
express an interest in a direct deal.
Listing plans were halted in 2018 and when they were revived
the following year the deal found little interest beyond the
Gulf. Riyadh scaled back its ambitions and canceled roadshows in
New York and London, selling a 1.7% stake and relying on mainly
domestic and regional buyers.
The proceeds of that offer were transferred to the Public
Investment Fund (PIF), Prince Mohammeds vehicle of choice to
transform the Saudi economy and diversify away from oil revenue.
(Writing by Ghaida Ghantous; editing by Matthew Lewis and Jason