Saudi Aramco may sell more shares if market conditions are right -PIF

The Saudi government sold over 1.7% stake in Aramco in an initial public offering (IPO) in 2019

  
An investor monitors a screen displaying stock information at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019.

An investor monitors a screen displaying stock information at the Saudi Stock Exchange (Tadawul) following the debut of Saudi Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia, December 11, 2019.

REUTERS/Ahmed Yosri

DUBAI- Saudi Aramco's shareholders may consider selling more shares of the company if market conditions are right, the head of the kingdom's sovereign wealth fund (PIF), Yasir al-Rumayyan, said on Tuesday in a televised news briefing.

The Saudi government sold over 1.7% stake in Aramco in an initial public offering (IPO) in 2019 that raised a record $29.4 billion.

The listing has triggered more IPOs in the kingdom, which is also seeking to deepen its capital markets under reforms aimed at reducing its reliance on oil.

(Reporting by Yousef Saba and Saeed Azhar; editing by David Evans) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))

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