Riyadh – Mubasher: Saudi Arabia's minister of finance Mohammed Al-Jadaan told bond investors on Monday during a presentation that the initial public offering (IPO) of the Saudi Arabian Oil Company (Saudi Aramco) will be carried on as planned in 2018, informed sources told Reuters.

Regarding the Citizen’s Account, a household allowance scheme, which aims to diminish the impact of austerity policies on low- and middle-income Saudi families, would be revealed over the coming weeks, Al-Jadaan said.

Saudi Arabia held the global investor call for a potential third international bond issuance prior to the issuance of a $17.5 billion international bond last year and a $9 billion sukuk in April, the news agency added.

Aramco has previously posted that the listing is proceeding “on track” after a report the oil company was mapping out contingency plans for a possible adjournment into 2019.

Saudi authorities seek listing up to 5% of the world’s largest oil producer on the Saudi Stock Exchange (Tadawul) and one or more international markets in an IPO that could raise $100 billion.