aramco ipo on track for second half of 2018
Wednesday 19 March 2025
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Aramco IPO on track for second half of 2018

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleAramco IPO on track for second half of 2018

Aramco, which controls Saudi Arabia's massive energy assets
Riyadh - Muslimchronicle

Saudi Aramco's initial public offering will take place in the second half of 2018, CEO Amin Nasser said Monday, dismissing reports that the oil giant's plans could be shelved.

"We have always said that we will be listing in 2018, and to be more specific, in the second half of 2018," Nasser said in an interview with CNBC television. 

"The IPO is on track. The listing venue will be discussed and shared in due course," Nasser told the channel in Riyadh.

The Aramco chief also said Saudi authorities were not in talks with Chinese or other investors to sell a stake in the firm, estimated to be worth around $2 trillion.

Aramco, which controls Saudi Arabia's massive energy assets, plans to list nearly five percent of its shares in the stock market. 

The IPO is expected to be the largest in history, raising around $100 billion in much-needed revenue for the kingdom, which has posted $200 billion in deficits in the past three fiscal years.

The listing is a cornerstone of an ambitious economic reform programme launched by powerful Crown Prince Mohammed bin Salman last year.

The programme, known as Vision 2030, aims to balance the Saudi budget after the OPEC kingpin lost hundreds of billions of dollars due to the slump in oil prices.

Doubts have been swirling around the viability and ambitious timeline of the Aramco IPO. 

Saudi Arabia had laid out plans for a dual listing on the Saudi stock market and an international exchange for 2018, with markets in New York and London vying for the offering.

But the company has struggled to select an international venue for its listing.

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

aramco ipo on track for second half of 2018 aramco ipo on track for second half of 2018

 



Themuslimchronicle, themuslimchronicle

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 11:05 2017 Thursday ,21 December

Protests rock Iraqi Kurdistan despite police clampdown

GMT 14:06 2017 Saturday ,16 December

16 insurgents killed in eastern Afghan provinces

GMT 11:46 2015 Monday ,13 July

Get the Armani Privé look

GMT 10:53 2017 Tuesday ,17 January

Rio Tinto ships more iron ore as prices surge

GMT 09:18 2017 Tuesday ,05 September

US pushes for 'strongest possible' UN sanctions

GMT 10:34 2017 Tuesday ,14 November

UAE Ambassador, Saudi Governor discuss relations

GMT 08:22 2015 Sunday ,01 November

Trump, bacon and creativity at NYC Halloween parade

GMT 15:39 2017 Wednesday ,04 January

Global launch by Huawei of new mid-range smartphone

GMT 08:44 2016 Tuesday ,22 March

Indonesian drivers stage violent anti-Uber protest

GMT 12:52 2017 Monday ,06 March

Air pollution linked to 600,000 deaths

GMT 14:15 2017 Thursday ,07 September

Outspoken Tanzanian opposition figure shot and wounded

GMT 09:00 2017 Sunday ,23 July

Turkish president begins his 2-day Gulf tour

GMT 07:30 2017 Friday ,07 April

US launches missile strike on Syria airbase

GMT 19:38 2017 Tuesday ,26 September

King Salman orders driving licenses for women
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle