Riyadh – Mubasher: The US and the UK governments have expressed interest in implementing Aramco's planned initial public offering (IPO) on their stock markets, CEO of Saudi Arabian Oil Company Amin Nasser said on Tuesday.
This will encourage a slew of associated financing, Nasser told several executives, government officials and journalists at the annual CERAWeek by IHS Markit event in Houston.
The Saudi officials have repeatedly said they seek to define the listing place this year, however they have not ruled out the move will slip into next year, Bloomberg reported.
Aramco’s listing will be valued at $2 trillion, while other organisations such as Tudor Pickering Holt & Co and Sanford C. Bernstein & Co. forecast the listing’s value might be lower, the CEO said in response to a question about the impact of oil prices’ on the IPO.
As for the most interesting assets for Aramco, he noted that the world’s largest oil firm expanded its ownership of petrochemical plants and refineries in Asia, especially in Malaysia and Indonesia.
Aramco also signed a memorandum of understanding (MoU) with China North Industries Group in order to explore more investment opportunities in downstream oil, Nasser added.
The Middle Eastern oil giant acquired Motiva Enterprises LLC’s plant in Port Arthur, the largest refinery in the US, he said.
