Saudi Arabia committed to Aramco IPO | 2019-06-17 | daily-sun.com

Saudi Arabia committed to Aramco IPO

17 June, 2019 12:00 AM printer

RIYADH: Saudi Arabia remains committed to selling shares in national oil conglomerate Aramco through an initial public offering but only at the right time, Crown Prince Mohammed bin Salman has said.

“We are committed to the IPO of Saudi Aramco based on appropriate conditions and at the right time,” Prince Mohammed told the pan-Arab daily Asharq al-Awsat in an interview published on Sunday, reports AFP.

He reiterated his earlier expectations that the IPO of Saudi Aramco “will take place in (late) 2020 or the start of 2021,” almost two years later than expected.

Saudi Arabia plans to sell up to five percent of the world’s largest energy firm and hopes to raise up to $100 billion.


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