S. Arabia pushes for Aramco IPO as early as 2020 - report - Breaking The News

S. Arabia pushes for Aramco IPO as early as 2020 - report

9 August

1 min read

EPA-EFE / ALI HAIDER

Saudi Arabian Oil Co. or Saudi Aramco is hastening its plans for an initial public offering, which may occur as early as 2020, the Wall Street Journal reported on Friday. According to the sources familiar with the matter, the IPO is being expedited in order to capitalize on the company's bond latest sale, which has garnered $85 billion of orders from investors during its $12 billion bond sale in April.

Saudi officials also reportedly stated that the time for an IPO was more favorable as the international pressure over the murder of journalist Jamal Khashoggi was easing during the past months.

Shortly after the aforementioned bond sale, Saudi Arabian Energy Minister Khalid al-Falih said that the Aramco IPO was coming "sooner than expected."

oil ipo aramco

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