RIYADH: Energy giant Saudi Aramco has retained the top spot in Forbes Middle East’s Top 100 listed companies for 2024, with $660.8 billion in assets and $1.9 trillion in market value. On June 9, the energy giant revealed that following the completion of its secondary offering, the company’s allocation to international investors reached 0.73 percent of total shares. In the same month, the energy giant also allocated an additional $4 billion to its global venture capital arm, Aramco Ventures, increasing its total investment allocation to $7 billion,” said Forbes. However, the energy sector, represented by five companies, was the most profitable, with a combined profit of $127.5 billion, thanks to Aramco. In April, another report released by UK-based Brand Finance revealed that Saudi Aramco maintained its position as the Middle East region’s most sought-after brand with a value of $41.5 billion.

Source: Forbes June 10, 2024 11:14 UTC