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Another IPO remains an option for Aramco – Minister

Another IPO remains an option for Aramco – Minister
Saudi Minister of Finance Mohammed Al Jadaan - Photo Archive
SAUDI ARAMCO
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Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) is still considering to list its shares on a foreign stock exchange, following its recent initial public offering (IPO) on the local market, according to the Saudi Minister of Finance Mohammed Al Jadaan.

Al Jadaan told Bloomberg that another IPO is still on the cards, “but I don’t think it’s going to be anytime soon,” he noted.

The Minister’s remarks came on the sidelines of the World Economic Forum (WEF) annual meeting in Davos.

It is worth noting that Aramco’s IPO was the largest in the world with a value that exceeded $29 billion.

The oil giant began trading on the Saudi Stock Exchange (Tadawul) last month.