Aramco mulls two-stage IPO - report - Breaking The News

Aramco mulls two-stage IPO - report

29 August

1 min read

EPA-EFE / VALDRIN XHEMAJ

Saudi Arabian Oil Co. or Saudi Aramco is mulling a two-stage initial public offering, the Wall Street Journal reported on Thursday citing sources with knowledge of the matter. Under the plan, a portion of Aramco's shares would be offered on the Saudi stock exchange this year, while another portion would debut on an international exchange in 2020 or 2021.

The second portion of shares could be offered on the Tokyo Stock Exchange, the sources added, as current instability in the United Kingdom and China take London and Hong Kong off the table.

Recently, Saudi Arabian Energy Minister Khalid al-Falih said that the Aramco IPO was coming "sooner than expected."

saudi aramco ipo

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