Saudi Arabia’s Public Investment Fund (PIF) has started discussions about how to monetize its approximately $86 billion stake in Saudi Aramco, world’s largest energy company, Bloomberg reported.
Earlier this month, Saudi Arabia's Crown Prince Mohammed bin Salman announced the transfer of 4% of Aramco shares to the PIF, and according to Bloomberg's private resources, the PIF is now evaluating options for these shares. Potential advisers are proposing various possibilities, including a full or partial sale of the stake, or raising money by pledging the stock against the issue of convertible debt instruments or loans, Bloomberg reported.
It's worth noting that the Saudi government still holds 94% of the oil giant, while the free float is around 2%.
On February 21, Aramco's share price hit a record SR40.2 ($10.71).
