4/24, 9:57 AM (Source: TeleTrader)
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Al-Falih: Aramco IPO coming sooner than expected

Saudi Arabian Energy Minister Khalid al-Falih said at the Financial Sector Conference (FSC) in Riyadh on Wednesday that the initial public offering (IPO) of the country's state oil company Saudi Aramco is coming "sooner than you think."

Al-Falih added that all the "preparatory steps" for the IPO have been taken and that the Aramco bond sale, which has garnered $85 billion of orders from investors, is only the beginning of accessing capital.

Earlier, Saudi Crown Prince Mohammad bin Salman said that the Aramco is expected to go public in late 2020 or early 2021, while Al-Falih stressed the IPO will take place within the next two years.

Breaking the News / NP