Saudi Arabia has the big spending shopping malls on – and the state budget is going back.
Now institutional investors are being offered to buy in further into the world's largest oil company, state-owned Saudi Aramco.
Shares that give 0.64% of the ownership in the company are being sold. The offer, which was released on Sunday, is between 26.7 and 29 rial per share (74.9 to 81.4 kronor).
If the final prices land in the middle of the range, it would generate equivalent to 121 billion kronor in revenue, but it could be as high as 138 billion kronor, according to CNBC.
Several multinational business banks are among the actors who have received the offer.
The Saudi state has launched construction projects that include, among other things, the construction of entirely new cities and vast amounts of other infrastructure until 2030.
The total cost has been estimated to be equivalent to over 10 trillion (10,000 billion) kronor. At the beginning of May, it became clear that the state had a budget deficit for the sixth quarter in a row, which has been exacerbated by the relatively low oil price.
This will be the second time that shares are being sold in Saudi Aramco. In 2019, 1.5% of the company was released for 29.4 billion dollars (approximately 309 billion kronor in today's exchange rate).
It is still considered the world's largest IPO.
