Saudi Arabia Set to Raise $11.2 Billion Selling Aramco Shares

SAUDI ARAMCO - DUBAI. Saudi Arabia is poised to raise more than $11.2 billion selling shares in oil giant Aramco to help fund its spending plans, after pricing the stock at the lower end of its expectations, the company said on Friday.

Aramco shares were priced at 27.25 riyals ($7.27) after the company set a price range of 26.7 to 29.0 riyals.