Saudi Arabia raises US$12.35bil from Aramco share sale after increasing offer

FILE PHOTO: The logo of Saudi Aramco is pictured outside Khurais, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo

DUBAI: Saudi Arabia raised a total of $12.35 billion from selling more shares in Aramco, after increasing the offering in the world's most valuable oil company, a document seen by Reuters showed.

The success of the share sale and additional proceeds will help further fuel Saudi Arabia's ambitions to invest in new industries and wean its economy away from oil under its Vision 2030 plan.