Learn more

Oil giantSaudi Aramco said Sunday that international investors had snatched up the bulk of shares sold in its latest offering, which was set to raise $11.2 billion. The secondary offering was expected to offer a short-term boost to Saudi Arabia’s finances as the Gulf kingdom builds large-scale projects including resorts and stadiums, part of a reform drive to prepare for an eventual post-oil future. “The majority of the shares constituting the institutional tranche of the Offering was allocated to investors located outside of the Kingdom,” the company said in a statement before the Saudi bours…

cuu