Print Edition - 2017-10-24  |  Money Digest

Aramco IPO on track for second half of 2018: CEO


Oct 24, 2017-

Saudi Aramco’s initial public offering will take place in the second half of 2018, CEO Amin Nasser said on Monday, dismissing reports that the oil giant’s plans could be shelved. “We have always said that we will be listing in 2018, and to be more specific, in the second half of 2018,” Nasser said in an interview with CNBC television. “The IPO is on track. The listing venue will be discussed and shared in due course,” Nasser told the channel in Riyadh. The Aramco chief also said Saudi authorities were not in talks with Chinese or other investors to sell a stake in the firm, estimated to be worth around $2 trillion. Aramco, which controls Saudi Arabia’s massive energy assets, plans to list nearly five percent of its shares in the stock market.

Published: 24-10-2017 08:47

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