For the second time in relatively few years, shares in the Saudi Arabian state-owned oil company Saudi Aramco will be put up for sale, Bloomberg News learned from unnamed sources on Wednesday.

The plan is for the sale to take place via an accelerated bookbuilding from Sunday, but inquiries have already been received from interested parties in both the Middle East and Europe that match the desired amount.

However, a final decision has not yet been made, the sources also state.

Aramco’s stock has fallen by 11% in 2024 after Bloomberg News previously wrote about the country’s plans to reduce its stake.

If the sale goes through, it will be the second offering of shares in Aramco. Five years ago, the company went public via a share sale for USD 30bn.

Aramco, which has not wished to comment on the information to the news agency, has a market capitalization of almost USD 1,900bn.

Saudi Arabia owns more than 82% of the company’s shares, while its investment fund holds 16%.

English edit by Kristoffer Grønbæk