(Bloomberg): The second offering of Aramco is close

Sources today, citing Bloomberg, said that Saudi Arabia is preparing for the second offering of the global oil giant, Aramco, likely to be on Sunday. The agency said that building the order book will begin next Thursday, and the offering may reach $10 billion.

Earlier, two informed sources confirmed that the Kingdom intends to sell shares worth billions of dollars in Aramco during June at the earliest, in what may be one of the largest stock deals in the region.

The two sources told Reuters that the offering could raise about $10 billion. They confirmed that preparations are underway and details may change.

They added that the shares will be listed in Riyadh and will be a fully marketed offering and not a quick sale over a few days.