HRH Crown Prince Announces Completion of the Transfer of 8% of Saudi Aramco’s shares to PIF’s Fully Owned Companies
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Board of Directors of the Public Investment Fund (PIF), announced today the completion of the transfer of 8% of Saudi Aramco's total issued shares from the State's ownership to PIF’s Fully Owned Companies. Following the transfer, the total State’s ownership will be 82.186% of the company’s shares.
His Royal Highness indicated that the transfer of part of the State’s shares in Saudi Aramco is a continuation of Saudi Arabia’s long-term initiatives to boost and diversify the national economy and expand investment opportunities in line with Saudi Vision 2030. The transfer will also solidify PIF’s strong financial position and credit rating.
The Crown Prince concluded that PIF continues with its mandate to launch new sectors, build new strategic partnerships, localize technologies and knowledge, and create more direct and indirect job opportunities in the local market.
-
![PIF signs memorandums of understanding with five leading Japanese financial institutions]()
Press Releases
31 October 2024PIF signs memorandums of understanding with five leading Japanese financial institutions -
![PIF and FII signed a memorandum of understanding to focus on the asset management industry at future FII events]()
-
![PIF and the Hong Kong Monetary Authority (HKMA) today signed a memorandum of understanding (MoU) to work towards jointly anchoring a new investment fund, with a target size of $1 billion. The MoU was signed at FII 8th Edition in Riyadh.]()
Press Releases
31 October 2024PIF and Hong Kong Monetary Authority sign memorandum of understanding for investment fund at FII8
