King Salman says Aramco’s IPO will attract investments, boost stock market

Saudi Arabia’s King Salman said that floating part of Saudi Aramco’s shares in the Saudi Stock Exchange (Tadawul) will offer local and foreign market participants the opportunity to invest in such a “pioneering” company on the global level.

The King’s comments came during his annual speech at the Shura Council. He added that Aramco’s initial public offering (IPO) will attract new investments, create thousands of jobs, and further boost the Saudi stock market.

Earlier this week, Saudi Aramco floated 1.5% (or 3 billion shares) to retail and institutional investors.

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