Saudi Arabian Oil Co.'s potential acquisition of a stake in petrochemicals maker Saudi Basic Industries Co. (Sabic) could affect the timing of its initial public offering, chief executive Amin Nasser said. He told Al-Arabiya television that if the deal is completed, "it will definitely affect the timeframe for the partial IPO of Saudi Aramco.”
The work on the stock market listing has been slow over concerns about legal exposure and Riyadh has yet to decide on the structure, the Financial Times reported. "When Saudi Aramco is ready, the decision of going ahead with the IPO is for the state to make," Nasser said.
