Saudi Arabia boosts sovereign fund with 4% Aramco transfer

Saudi Arabia’s Crown Prince Mohammed bin Salman announced the completion of a 4% transfer of Saudi Aramco shares on Sunday from state ownership to Sanabil Investments. 
Saudi Aramco
This picture shows Aramco Tower in Riyadh's King Abdullah Financial District on April 16, 2023. - FAYEZ NURELDINE/AFP via Getty Images
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Salim A. Essaid
@salim_a_essaid

Saudi Arabia’s government transferred a 4% stake in Saudi Aramco to its sovereign wealth fund-owned Sanabil Investments as part of its economic growth strategy.

The government remains Saudi Aramco’s biggest shareholder with 90.18% of the oil company, according to state-owned Saudi Press Agency.

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