The firm also says there are no current plans for an international stock sale. FMTNews Saudi
Saudi Arabia is pulling out all the stops to ensure the success of the IP.
“The base offer size will be 1.5% of the company’s outstanding shares,” the state-owned energy giant said in a statement that set the price range at 30-32 Saudi riyals per share . But the firm has said there are no current plans for an international stock sale, indicating that the long-discussed goal had been shelved for the time being.
“If subsequently effectively deployed, the funds raised could be used to support longer-term economic growth in Saudi Arabia,” it said.
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