Saudi Arabia considers expanding the initial public offering (IPO) of Saudi Aramco by floating a 10% stake, instead of 5% as previously planned, Wall Street Journal first reported.
The Saudi Royal Court is reportedly discussing the matter with its advisers.
With an evaluation by the Saudi government Aramco of about $2 trillion, this could mean proceedings of $200 billion, which would be eight times the world’s largest IPO to this day.
This comes after the recent drone attacks on two major Aramco facilities.
Meanwhile, other reports have suggested that the attacks could delay the IPO beyond this year.
Aramco has recovered around 75% of the production lost due to the recent drone attacks on two major oil plants in Khurais and Abqaiq.