May 31 (LNGJ) - The Government of the Kingdom of Saudi Arabia and the Saudi Aramco oil company are proceeding with a secondary share offering that could raise more than $13 billion. Aramco, which is currently seeking global LNG volumes and boosting domestic natural gas production, said the offering would be made to institutional investors in Saudi Arabia, overseas institutional investors, Saudi retail investors and investors in the Gulf Cooperation Council countries.
The offering comprises 1.545 billion Aramco shares representing 0.64 percent of the company’s issued share capital. “The price range for the offered shares is between 26.70 Saudi riyals ($7.11) and 29.00 riyals ($7.73) per share,” Aramco said.
