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Aramco will offer 1.545 billion shares in a price range between 26.70 and 29 Saudi riyals per share, according to a company filing. At the midpoint of that range, the sale would total nearly $11.5 billion. The sale represents a follow-on offering, after Aramco initially entered the public markets in 2019 and raised $29.4 billion in the world's largest ever initial public offering. Aramco lifted its base dividend for the fourth quarter to $20.3 billion, and boosted its performance-linked dividend to $10.8 billion. Saudi Arabia owns more than 82% of Aramco prior to the sale, the Wall Street Journal has reported.
Persons: Abdulaziz bin Salman, Prince Mohammed bin Salman, — CNBC's Spencer Kimball Organizations: Aramco, Plaza Conference, Saudi, Saudi Energy, Chevron, ExxonMobil, giga, Wall Street Locations: Dhahran, Saudi Arabia, Saudi Arabia's, Aramco, Riyadh, Saudi, Neom
Members of media chat before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. Saudi Arabian state oil giant Aramco plans to offer a fresh sale of between $10 and $20 billion of its stock as soon as this week, the Wall Street Journal reported late Tuesday, citing individuals with knowledge of the matter. Aramco is the world's largest oil company in terms of both daily oil production and market cap. If the offering goes ahead, it would relieve some financial pressure on the kingdom, at least in the near-term, the Journal reported. Saudi Arabia in May forecast a budget deficit of 79 billion Saudi riyals ($21 billion) for the year, as well as a fiscal deficit in 2025 and 2026.The stock sale could still be delayed or canceled, the Journal reported.
Persons: chalked Organizations: Aramco, Plaza Conference, Wall Street Journal, Public Investment Fund, CNBC, Saudi Locations: Dhahran, Saudi Arabia, Saudi Arabian, Saudi
BlackRock names Saudi Aramco CEO Amin Nasser to board
  + stars: | 2023-07-17 | by ( Yun Li | ) www.cnbc.com   time to read: +3 min
Amin H. Nasser, president and CEO of Saudi Aramco, speaks during a news conference at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. BlackRock said Monday that Amin Nasser, the CEO of Saudi Aramco, the world's largest oil company, is joining the asset manager's board of directors. The world's largest asset manager said the move reflects the firm's emphasis on the Middle East as part of its long-term strategy. In August 2022, Texas Comptroller Glenn Hegar targeted BlackRock, putting the asset manager on a list of financial companies that "boycott energy companies." "It's got nothing to do with maximizing returns and is the opposite of what an asset manager is paid to do."
Persons: Amin H, Nasser, Amin Nasser, Amin's, Larry Fink, Fink, Glenn Hegar, Jimmy Patronis, It's Organizations: Plaza Conference, BlackRock, Saudi Aramco, Aramco, BlackRock Board, Republicans Locations: Saudi Aramco, Dhahran, Saudi Arabia, Saudi, East, BlackRock, Texas, Florida
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