Riyadh – Mubasher: The initial public offering (IPO) of Saudi Aramco would be the “the most transparent national oil company listing of all time,” Saudi energy minister Khalid al-Falih told the Financial Times.
The company will reveal its audited financial statements before its flotation, the minister noted.
“Everything that Saudi Aramco has, that will be shared, that will be verified by independent third parties,” al-Falih noted in an interview with FT, adding this would include financial statements, “reserves … costs [and] profitability indicators”. Western investors see this as a prerequisite for the company’s flotation.
