Logo of Saudi Arabian Oil Co. (Saudi Aramco)
Saudi Arabia is set to hire banks including Citigroup Inc., Goldman Sachs Group Inc. and HSBC Holdings Plc for a secondary share sale in Aramco, Bloomberg reported, citing people familiar with the matter as saying.
The deal may raise about $20 billion and rank among the biggest offerings in recent years, it added.
The world’s biggest oil exporter is also in talks with other banks as it pulls together a roster of advisers for the offer that may come in the next few weeks, Bloomberg said.
Aramco stock closed Thursday’s trading down by more than 1% at SAR 30.7.
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