Riyadh – Mubasher: Saudi Arabian Oil Co, known internationally as Saudi Aramco, is seeking to obtain $2 billion loan from Japan's Export Agency, Bloomberg reported on Wednesday.
The two parties have not reached a final agreement and Japanese lenders are planning to arrange the loan in a bid to be capable of taking part in the state-owned crude producer’s initial public offering (IPO), three informed sources stated.
The kingdom plans to implement Aramco’s IPO by floating 5% stake on the stock markets which may be valued at $2 trillion.
In November, the UK’s government approved securing $2 billion loan for Aramco in an effort to attract the IPO to London Stock Exchange (LSE).
