Saudi Arabia Prime Minister & Crown Prince Transfer 4% of $2 Trillion Saudi Aramco Shares Valued at $80 Billion to Saudi Arabia Sovereign Wealth Fund Subsidiary Sanabil Investments, Diversify Economy & Expand Investment Opportunities for Saudi Vision 2030
22nd April 2023 | Hong Kong
Saudi Arabia Prime Minister & Crown Prince (Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud) has transferred 4% of $2 trillion Saudi Aramco shares valued at $80 billion to Saudi Arabia sovereign wealth fund (Public Investment Fund) subsidiary Sanabil Investments to diversify Saudi Arabia economy & expand investment opportunities for Saudi Vision 2030. Sanabil Investments: “His Royal Highness indicated that the transfer of part of the State’s shares in Saudi Aramco is a continuation 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 transfer will also solidify PIF’s strong financial position and credit rating. His Royal Highness pointed out that the State will remain Saudi Aramco’s largest shareholder following the transfer, with total ownership of (90.18%) of the company’s shares. The Crown Prince concluded that PIF continues with its mandate to launch new sectors, build new strategic partnerships, localize technologies and knowledge, and create more direct and indirect job opportunities in the local market.” Sanabil is a financial investment company that commits approximately $3 billion in capital per annum in private investments that include venture, growth capital and small buyouts. See below for statement.
“ Saudi Arabia Prime Minister & Crown Prince Transfer 4% of $2 Trillion Saudi Aramco Shares Valued at $80 Billion to Saudi Arabia Sovereign Wealth Fund Subsidiary Sanabil Investments “
Saudi Arabia Prime Minister & Crown Prince Transfer 4% of $2 Trillion Saudi Aramco Shares Valued at $80 Billion to Saudi Arabia Sovereign Wealth Fund Subsidiary Sanabil Investments
16 April 2023 – His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Board of Directors of the Public Investment Fund (PIF), announced today the completion of the transfer of (4%) of Saudi Aramco’s total issued shares from the State’s ownership to the Saudi Arabian Investment Company (Sanabil Investments), a wholly owned company of PIF.
His Royal Highness indicated that the transfer of part of the State’s shares in Saudi Aramco is a continuation 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 transfer will also solidify PIF’s strong financial position and credit rating. His Royal Highness pointed out that the State will remain Saudi Aramco’s largest shareholder following the transfer, with total ownership of (90.18%) of the company’s shares.
The Crown Prince concluded that PIF continues with its mandate to launch new sectors, build new strategic partnerships, localize technologies and knowledge, and create more direct and indirect job opportunities in the local market.
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