10/9, 12:43 PM (Source: TeleTrader)
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IPO when shareholders decide - Aramco's CEO

Saudi Arabian Oil Company's President and CEO Amin Nasser told CNBC on Wednesday that the company will be ready for its initial public offering (IPO) "whenever shareholders decide it's time."

He also stated that "the world saw how resilient" Saudi Aramco was with its full oil capacity being restored quickly after the drone attacks.

Earlier, Nasser expressed confidence that the company's revenues wouldn't suffer, while adding that there will be a possibility of capacity recovering even better than expected. It was also reported on Wednesday that Saudi Aramco will probably publish its IPO prospectus by the end of October.

Breaking the News / MS