Saudi-owned Aramco is set to sell $50 billion in shares, The Wall Street Journal reported Friday, citing people familiar with the potential deal. If the deal goes through, it would be the largest offering in the history of the capital markets.
According to a Saudi official, after months of discussions with advisors, the kingdom has decided to make the new offering on the Riyadh stock exchange to avoid legal risks related to an international listing.
A decision on the timing of the transaction has not yet been made, but sources believe that the shares could be offered before the end of the year.