Saudi Aramco IPO to offer stake in all operations, CEO says
Saudi Aramco is planning to sell shares in the entire business and not just in its refining or distribution operations, the company’s CEO Amin Nasser said. It will announce "very soon" a list of investment banks and consultants advising it on the IPO, he said, without specifying a date. It plans to list shares on the Saudi stock market and is also considering foreign bourses in London, Hong Kong and New York, according to Nasser. The government plans to sell c5% shares in Saudi Aramco in early 2018, aiming to raise cUSD100bn. (Bloomberg)
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