Saudi Arabia moves $80 bln of Aramco shares

Saudi Arabia moves $80 bln of Aramco shares
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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