By Robert Anderson / Gulf Businesss - Image Credit: gulfbusiness.com
SOURCE: Saudi finance minister says Aramco IPO to go ahead in 2018
Saudi Finance Minister Mohammed al-Jadaan told bond investors during a presentation on Monday that the initial public offering (IPO) of Saudi state oil giant Aramco will proceed as planned in 2018, sources familiar with the matter told Reuters.
Aramco has previously said the listing remained “on track” after a report that the oil company was preparing contingency plans for a possible delay into 2019.
Saudi Arabia held the global investor call in preparation for a potential third international bond issuance, having issued a $17.5bn international bond last year and a $9bn sukuk in April.
Saudi authorities aim to list up to 5 per cent of the world’s largest oil producer on the stock exchange in Riyadh, the Tadawul, and one or more international markets in an IPO that could raise $100bn.