Saudi Aramco ready for foreign float alongside domestic listing
ABU DHABI/RIYADH - Saudi Aramco is primed to float on international markets to complement a planned primary listing at home, the Saudi Arabian oil giant’s chief executive said on Tuesday.
Saudi Arabia, which has long planned an international IPO of Aramco, now plans a gradual listing of the world’s top oil producing company on its home market, sources familiar with the matter said. The IPO is planned for 2020-2021, but could happen by the end of this year. The IPO plan has rapidly gained momentum in recent days and Nasser welcomed the appointment this month of the head of the kingdom’s sovereign wealth fund PIF as Aramco’s new chairman, Yasser al-Rumayyan, saying he brought “a lot of riches”.
Amin H. Nasser, president and CEO of Saudi Arabian Oil Company, Saudi Aramco, speaks at the 24th World Energy Congress in Abu Dhabi, United Arab Emirates September 10, 2019. REUTERS/Satish Kumar “There seems to be more of an alignment between the sovereign wealth fund, Saudi economic policies and Aramco´s potential new role there. This link is what ... we need to be monitoring carefully,” Sergey Dergachev, a manager of emerging market corporate debt at Germany-based Union Investment, said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Aramco Plans Two-Part Saudi Listing to Expedite IPOSaudi Arabia is planning a two-part listing of Aramco on its domestic stock market to ensure that the exchange can easily absorb what would be the kingdom’s largest initial public offering.
Baca lebih lajut »
Saudi Aramco CEO confirms IPO will have a secondary listing, locations under reviewNearly all the nation's state attorneys general are probing Big Tech companies, which will likely put pressure on federal investigators.
Baca lebih lajut »
Maintaining separation between Aramco and its regulator is a 'must,' Saudi energy minister saysNew Saudi Energy Minister Prince Abdulaziz bin Salman has underlined the importance of regulation for Saudi Aramco.
Baca lebih lajut »
Saudi Aramco lines up banks, eyes local listing this year: sourcesSaudi Aramco is expected to give lead roles to JPMorgan, Morgan Stanley and Nati...
Baca lebih lajut »
Exclusive: Saudi plans gradual listing at home for Aramco: sourcesSaudi Arabia plans to list 1% of state oil giant Saudi Aramco on the Riyadh stoc...
Baca lebih lajut »
Saudi Aramco likely to give IPO roles to Citi, Goldman, HSBC and Samba: sourceSaudi Aramco is likely to give roles to Citi , Goldman Sachs , HSBC and Samba Fi...
Baca lebih lajut »