Riyadh – Mubasher: The board of Saudi Aramco will meet in China next May, for the first time in seven years, as the state-owned energy firm seeks to attract Chinese and Asian investors to its giant initial public offering (IPO), Reuters reported.
The board will hold a meeting in Shanghai on 10 May to discuss the firm's business plans, investments, and preparations to sell up to 5% of Aramco in 2018, sources added to the news agency.
Aramco’s board gathers twice a year and often meets abroad, but so far, it only met in China once in 2010.
The oil giant appointed international banks related to Chinese investors to advise on the IPO, Reuters mentioned.
Sources noted that last month, Aramco’s IPO and the potential role of Chinese investors had been discussed during the visit of the Saudi King Salman to Beijing.
