Deals
Saudi Arabia Says Aramco IPO on Track as It Weighs Best Approach
- Kingdom has more than IPO valuation to consider: Al-Falih
- Listing set for early 2018, no decision yet on location
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The initial public offering of Saudi Arabian Oil Co. remains on track while the government considers how to meet all its objectives from the sale of a stake in the world’s biggest oil company, the kingdom’s Energy Minister said.
Saudi Arabia hopes to list the company, also known as Saudi Aramco, in early 2018, Energy Minister Khalid Al-Falih said in Los Angeles on Thursday. The process requires time as the government considers how to “optimize” Aramco’s value for both potential shareholders and for the kingdom as it pursues a plan to diversify its economy, Falih said.