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2024

War, money, oil and the shaping of Aramco's giant share sale

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War, money, oil and the shaping of Aramco's giant share sale

A large chunk of this month's $11.2 billion share sale was allocated to foreign investors, leading one person involved in the process to describe it as the deal the IPO was supposed to be. Its success could create a template for future Aramco sell-downs, which now seem likely as the Crown Prince - who's known as MBS - seeks cash to help fund his multitrillion-dollar Vision 2030 economic transformation project.