He was speaking at the kingdom’s Future Investment Initiative conference.
Aramco, the world’s biggest oil company, completed the world’s largest initial public offering in late 2019, raising $25.6 billion and later selling more shares to up the total to $29.4 billion.
On Tuesday, the head of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), said Aramco may consider selling more shares if market conditions are right.
Aramco’s shares were down 0.14% on Thursday at 34.75 riyals ($9.26), above its IPO price of 32 riyals. Thursday’s closing price valued the company at $1.86 trillion.
The Aramco initial public offering was seen as a pillar of economic diversification plans aimed at attracting foreign investment and reducing Saudi Arabia’s reliance on oil revenues.
