Tuesday 27, March 2018 by Jessica Combes

Saudi Aramco CEO says company ready for IPO in 2H 2018


Saudi Aramco will be ready for an initial public offering in the second half of 2018 and the work is ongoing, Amin Nasser, the CEO of the state oil company, confirmed during a Bloomberg television interview on Monday.

He said a lot of work is underway in preparation of the listing and that the size and complexities of the process means it will take some time, with factors like the venue depending on the government.

The Kingdom will list up to five per cent, and the IPO could give the company a total valuation of up to $2 trillion.

Last week Saudi Energy Minister Khalid al-Falih told Reuters that the company could be floated either domestically or internationally late this year.



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