Money & BusinessSaudi Arabia

4% of Aramco’s shares moved to PIF

Saudi Arabia announced the transfer of 4 percent of Saudi Aramco shares to the Public Investment Fund, Saudi Arabia’s sovereign wealth fund.

The crown prince said the state remains the largest shareholder in Saudi Aramco after the transfer process, as it owns more than 94 percent of the company’s shares.

The transfer will not affect the company’s total number of issued shares, and the shares transferred will rank equally alongside other existing ordinary shares in the Company.


Arab News
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