SAUDI ARABIA

Aramco IPO to happen within two years: Al-Falih

March 07, 2019
Khalid A. Al-Falih, minister of energy, industry and mineral resources, seen in this file photo.
Khalid A. Al-Falih, minister of energy, industry and mineral resources, seen in this file photo.

RIYADH — Saudi Aramco, the world’s biggest oil company, is expected to launch its long-awaited initial public offering within two years, an Arab newspaper reported, citing comments from Khalid A. Al-Falih, the minister of energy, industry and mineral resources.

The minister made his comments during a visit to the headquarters of Saudi Aramco’s headquarters on Wednesday, according to a report by the Okaz newspaper.

The IPO was initially scheduled to take place last year but was postponed. Saudi Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, said the listing would go ahead by 2021 and he estimated the company’s valuation at around $2 trillion, Bloomberg reported. — SG


March 07, 2019
1380 views
HIGHLIGHTS
SAUDI ARABIA
48 minutes ago

Surveillance cameras must for mobile vending carts

SAUDI ARABIA
hour ago

Saudi authorities arrest 37 in drug trafficking case involving government staff

SAUDI ARABIA
3 hours ago

Over 80,000 commercial registrations issued in 2Q 2025, bringing total to 1.7 million