Saudi Arabia transfers 8 pct of Aramco to PIF portfolio

Saudi Arabia’s Crown Prince Mohammed bin Salman announced on Thursday the completion of the transfer of 8 percent of Saudi Aramco’s total issued shares from the state’s ownership to the Public Investment Funds’ Fully Owned Companies, the Saudi Press Agency (SPA) reported.

Following the transfer, the total of the state’s ownership will be 82.186 percent of the company’s shares, SPA said in its report.