Saudi Aramco IPO will be a ‘Saudi decision first and foremost’: Energy Minister
Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Wednesday that Saudi Aramco's IPO will be a “Saudi decision first and foremost” and “Prince Mohammed's decision,” during the Future Investment Initiative in Saudi Arabia.
Saudi Aramco will list on the Saudi Stock Exchange (Tadawul) on December 11, Al Arabiya sources confirmed on Tuesday.
Saudi Capital Markets Authority's announcement of the intention to float the initial public offering (IPO) will take place on November 3.
Pricing will start on November 17 with a final price for the float expected to be announced on December 4.
Saudi Arabia is looking to list state-owned Aramco on markets on the Saudi Stock Exchange and abroad. The Aramco IPO is a cornerstone of Saudi Arabia’s Vision 2030 reform plan, which aims to wean the Kingdom off its reliance on oil and diversify the economy.
Last month’s attacks on two key oil installations in Saudi Arabia knocked off five percent of the global crude supply, which has since been restored by the world’s largest oil exporter.
“I want to move on… we in the energy industry in Saudi Arabia, we have got a few challenges, we have got an IPO and we want to make sure it’s a successful IPO,” Prince Abdulaziz said at the Russia Energy week earlier this month.
Anthony Scaramucci wants presence in Saudi Arabia; ‘bullish’ on Aramco IPOFormer White House communications director Anthony Scaramucci said he is keen on having a business presence in Saudi Arabia as the Kingdom pushes ... Business
Aramco to list on the Tadawul on December 11: SourcesSaudi Aramco will list on the Saudi Stock Exchange (Tadawul) on December 11, Al Arabiya sources confirmed. Saudi Capital Markets Authority's ... Energy
Saudi Stock Exchange Chairman says market is ready for Aramco IPOChairman of the Saudi Stock Exchange (Tadawul) Sarah al-Suhaima said on Tuesday that the market was ready for Saudi Aramco’s listing. “We ... Business