Riyadh – Mubasher: The Saudi Arabian Oil Co, known internationally as Saudi Aramco, is expected to kick off its initial public offering (IPO) within two years, Okaz newspaper reported, citing the kingdom’s energy minister Khalid Al-Falih as saying.

Al-Falih’s statement came on the sidelines of his visit to Aramco’s main office, the newspaper added.

The local, international share sale of Aramco was initially scheduled to begin last year but was postponed.

In October 2018, Aramco’s CEO Amin Nasser said that his firm is committed to implement the IPO in the coming period.

The oil giant Aramco’s IPO is the centerpiece of the crown prince’s Vision 2030 reform plan, intended to diversify the kingdom’s economy and invest more heavily in infrastructure.

The GCC nation seeks to raise about $100 billion by offering a small portion of Aramco.