Riyadh – Mubasher: Saudi Arabian Oil Company, globally known as Saudi Aramco, has approached Petronas, Malaysian state energy company, to participate in the former’s initial public offering (IPO), Reuters reported on Wednesday.
The move is expected to help in strengthening ties between both companies.
The Saudi government intends to sell 2% of Saudi Aramco in a domestic listing on the Saudi Stock Exchange (Tadawul) on 11 December.
"We have been recently approached by representatives of Saudi Aramco to consider Petronas’ participation in its initial public offering exercise,” Petronas told Reuters.
