Saudi Aramco Launches Global Events to Spark Interest in $12 Billion Share Sale
In a bid to generate buzz around its upcoming $12 billion share sale, Saudi energy giant Aramco is set to host a series of events in London and the US, as reported by Bloomberg.
Top Executives to Attend Events in London
Aramco’s CEO, Amin Nasser, is slated to attend at least one of the events in London this week, alongside Chief Financial Officer Ziad Al-Murshed, according to sources familiar with the matter.
Simultaneously, plans are in motion for a separate event in the US, highlighting the company’s strategic focus on attracting a diverse range of investors.
Investors Eye Lucrative Returns
Bloomberg Intelligence projects that investors could potentially enjoy a $124 billion annual payout, with a dividend yield of 6.6 percent. Despite its strong valuation and lack of buybacks, Aramco’s confidence in drawing in global capital remains unwavering.
Saudi Government to Maintain Majority Ownership
Following the share sale, the Saudi government will retain an ownership stake of around 82 percent in Aramco, with the Kingdom’s sovereign wealth fund securing an additional 16 percent share.