Riyadh – Mubasher: Saudi Aramco is ready to work on the postponed major offering, which may take place in 2020 or 2021, Saudi Arabia’s energy minister Khalid al-Falih said, according to Reuters.
The Saudi official denied the full suspension of the IPO plan, Reuters added.
“We have always been clear that the IPO will happen in the 2020-2021 timeframe. We have never stopped talking about the IPO,” the international news agency reported, citing al-Falih as saying.
Informed sources told Bloomberg News that Saudi Aramco was trying to revive a shelved initial public offering (IPO) plan.
The Saudi oil giant is in talks with investment banks to discuss potential roles on the mega share sale, the sources added.
