Saudi Arabia has announced the completion of the transfer of 8% of Saudi Aramco's total shares to portfolios of companies wholly owned by the Public Investment Fund (PIF). This significant move was reported by the Saudi Press Agency (SPA) and confirmed by Crown Prince Mohammed bin Salman. The transfer is a part of the country's efforts to diversify its economy and enhance the wealth fund's spending power. The shares transferred are valued at approximately $163 billion to $164 billion, marking a substantial investment into the PIF's portfolio.
Saudi Arabia transfers $163bn stake of oil producer Aramco to its wealth fund https://t.co/zKZNUwkilJ
Saudi says 8% Aramco stake transferred to PIF wealth fund portfolio https://t.co/oI4VyLELcE
Saudi Arabia’s crown prince transfers another 8% of Aramco shares to sovereign wealth fund https://t.co/L8FfyKyLgp
Saudi Arabia transfers 8% of Aramco to PIF portfolio https://t.co/nDQFGcnPW3 https://t.co/uQDmr9PBWO
Saudi Arabia’s government transfers a further $164 billion stake in Aramco to its wealth fund https://t.co/uQ9mLBEd5t
Saudi Arabia has transferred another 8% of its national oil company from one side of the gov to another (from the Treasury to the sovereign wealth fund). The move is largely irrelevant, other than to fund the spending spree of the sovereign wealth fund | #OOTT #SaudiArabia https://t.co/EYEudWIUNH
Saudi Crown Prince Mohammed bin Salman announces the completion of the transfer of 8 percent of Saudi #Aramco’s total issued shares from the state’s ownership to the Public Investment Fund’s Fully Owned Companies, the Saudi Press Agency (SPA) reports. https://t.co/Dd8mHWTIIJ https://t.co/pZi700u5qj
⚠️ SAUDI ARABIA TRANSFERS 8% OF ARAMCO TO PIF PORTFOLIO, SPA REPORTS Full Story → https://t.co/LtnC2XuLEU Saudi Arabia has transferred 8% of state oil giant Aramco's total shares to a portfolio owned by the country's sovereign wealth fund PIF, state news agency SPA reported… https://t.co/a1NGuyRMAB
#SaudiArabia announces the completion of the transfer of (8%) of the total shares of Saudi Aramco to portfolios of companies wholly owned by the Public Investment Fund #oott https://t.co/JzSsRdjfaX
News alert: Saudi crown prince MBS announces the completion of the transfer of 8% of Aramco Shares to the PIF #OOTT #SaudiArabia