Saudi Aramco’s 4% stakes transferred to PIF-owned Sanabil Investments
17 April 2023
Saudi Arabia’s Crown Prince Mohammed bin Salman has stated that a 4 percent stake in energy giant Saudi Aramco has been transferred from state ownership to Sanabil Investments, the investment arm of the Kingdom’s sovereign wealth fund.
The crown prince revealed that the state remains Aramco’s biggest shareholder, owning 90.18 percent stakes in the firm.
Saudi Arabia-based Sanabil is an investment company that commits approximately $3 billion a year to private transactions.
The move follows a similar transfer last year worth tens of billions of dollars, with the wealth fund now controlling a total of 8 percent of shares in Aramco, as per the reports.
The latest transfer will not affect Aramco’s total number of issued shares, and the shares transferred will rank equally alongside other existing ordinary shares, the company said in the bourse statement.
The crown prince indicated that this transfer of stakes is a part of Saudi Arabia’s long-term initiatives to boost and diversify the national economy and expand investment opportunities in line with Saudi Vision 2030.
The crown prince further added that the transfer will help maximize the assets of the Public Investment Fund and could enhance the PIF’s strong financial position and credit rating.
“The PIF will continue to launch new sectors, along with building strategic economic partnerships, localize technologies and knowledge, which will ultimately result in the creation of more direct and indirect jobs in the local labor market,” the crown prince added.
Related
-
Acwa sign $3bn PPA for Rabigh 2 IPP expansion project
23 April 2026
-
ANDRITZ wins major hydropower upgrade contract in New Zealand
22 April 2026
-
Romania's Bihor county signs EU funding deal for 281 mln euro tram-train project
22 April 2026
-
Wärtsilä to supply 412MW of engine power for US data centre
20 April 2026
-
Samsung C&T, Hitachi Energy partner on European power grid market entry
19 April 2026
-
Hochtief team lands €1.2bn Prague metro extension
17 April 2026


京公网安备
11010802030424号
京ICP备19046776号-2