In a significant move, Saudi Aramco has announced an $11.2 billion stock sale, marking the largest global offering in three years. The proceeds will be channeled into Saudi Arabia’s ambitious economic overhaul. What Happened: The Saudi government is set to sell nearly 1.55 billion shares at 27.25 Saudi riyals ($7.27) each, representing a 6% discount from the stock’s last closing price, reported Bloomberg on Thursday. The offering, which attracted considerable interest from foreign investors, was oversubscribed within hours of its launch on Sunday. The stock sale is a significant shift from Ara…
