Riyadh – Mubasher: The shares of Saudi Aramco will be offered on the Saudi Stock Exchange (Tadawul) before the external markets, Saudi Minister of Investment Said.

Majed Al Qasabi added that Tadawul cannot be adequate for the 5% which are planned to be offered, according to Okaz newspaper.

The minister stressed on that Aramco will be still under the sovereignty of the Kingdom even after the initial public offering (IPO) and it is not considered as selling.

Saudi Aramco appointed Moelis & Co. as the advisor for its IPO, Bloomberg reported on Wednesday.