Saudi Arabia moves $80 bln of Aramco shares
Saudi Arabia moves $80 bln of Aramco shares
RIYADH, February 14, 2022 – Saudi Arabia has transferred shares of Saudi Aramco worth USD 80 billion towards its wealth fund to invest in sustainability projects, the government announced on Sunday.
The move of 4% shares of the NOC is in support of Public Investment Fund’s plans to raise assets to USD 1 trillion by 2025 from USD 480 billion.
The government will retain a 94% stake in the company.
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