Riyadh – Mubasher: The initial public offering (IPO) of a stake in the Saudi Arabian Oil Co, known globally as Saudi Aramco is planned to be implemented in 2018, Reuters on Thursday reported, citing Aramco’s CEO Amin Nasser as saying.
“The announcement about the company’s IPO will be made in due course," the agency added, while Nasser participated in a panel discussion of an energy forum in Moscow.
Aramco’s IPO will not be postponed, and it will occur in the second half of 2018, Reuters stated on Thursday, citing Khalid Al-Falih, the Saudi Minister of Energy, Industry and Mineral Resources and chairman of Aramco as saying.
In April 2016, the Saudi Crown Prince Mohammad bin Salman said that the largest international oil’s IPO will be in 2017 or in 2018, as Aramco plans to sell a stake less than 5%.
