Saudi Arabia is going to sell 5% of Aramco

Saudi Arabia is preparing to sell 5% of Saudi Aramco during IPO in 2018.

2017-04-14 views 491

Saudi Arabia is going to sell 5% of Aramco

The IPO plan has been championed by Deputy Crown Prince Mohammed bin Salman, who oversees the country's energy and economic policies. He said he expected the IPO would value Aramco at a minimum of $2 trillion. Saudi Arabia is favoring New York for listing Saudi Aramco, while also considering London and Toronto. The IPO will be organized “to maximize the economic benefits of the kingdom,” the government source said. “Saudi Arabia will not give up on its majority ownership of Aramco, and will not relinquish the control of it.”

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