header banner
WORLD

Saudi Aramco is ready for IPO - senior executive

DUBAI, August 12: Saudi Aramco is ready for its initial public offering, but a timing for the deal will be decided by its sole shareholder, the Saudi government, a senior executive said on Monday.
By Reuters

DUBAI, August 12: Saudi Aramco is ready for its initial public offering, but a timing for the deal will be decided by its sole shareholder, the Saudi government, a senior executive said on Monday.


“We will announce (the IPO) depending on their (the government’s) perception on what would be the optimum market condition,” Khalid al-Dabbagh, senior vice president of finance, strategy and development, told an earnings call.


Related story

Yemen's Houthis say they fired missile at Saudi Aramco site in...


Saudi officials have said the government plans to list Aramco in 2020-2021, a deal seen as the centrepiece of the kingdom’s economic transformation drive to attract foreign investment and diversify away from oil.


 

Related Stories
POLITICS

Nepal condemns recent drone attacks on Saudi Aramc...

WORLD

Fires from drone attacks on two Aramco sites under...

WORLD

Saudi Aramco kick-starts what could be world's big...

ECONOMY

India's Reliance to roll out fibre broadband, unve...

ECONOMY

Himalayan Reinsurance IPO Allotment: Up to 30 shar...