Saudi Aramco IPO to happen within two years - minister

Saudi Aramco's IPO was initially scheduled to take place last year but was postponed
Saudi Aramco IPO to happen within two years - minister
Khalid A. Al-Falih, the minister of energy, industry and mineral resources, confirmed the timeline to local media in Saudi Arabia.
By Shane McGinley
Thu 07 Mar 2019 10:30 AM

Saudi Aramco, the world’s biggest oil company, is expected to launch its long-awaited initial public offering within two years, an Arab newspaper reported, citing comments from Khalid A. Al-Falih, the minister of energy, industry and mineral resources.

The minister made his comments during a visit to the headquarters of Saudi Aramco’s headquarters on Wednesday, according to a report by the Okaz newspaper.

The IPO was initially scheduled to take place last year but was postponed. Saudi Crown Prince Mohammed bin Salman said the listing would go ahead by 2021 and he estimated the company’s valuation at around $2 trillion, Bloomberg reported.

Follow Arabian Business’ full coverage of the buildup to the Aramco IPO online here.

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