Al-Falih says Aramco IPO likely in 2019

26/05/2018 Argaam

 

Saudi Arabia is most likely to hold the initial public offering (IPO) of oil giant Aramco in 2019, Reuters reported, citing Khalid Al-Falih, energy minister.

 

The statement confirms a delay from the initial plan to list the company this year.

 

Saudi Arabia is planning to sell a 5 percent stake in Aramco, as the Kingdom looks to diversify its economy through privatization and fiscal reforms. The listing is expected to be the world’s largest, valued at $100 billion.  

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