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Saudi Arabia Launches Its Long-Awaited IPO Of Aramco

Posted by ipso facto @ 14:02 on November 3, 2019  

As the global IPO market falters, Saudi state oil giant Aramco announced Sunday its IPO offering on the Tadawul exchange in Riyadh.

Saudi Crown Prince Mohammed bin Salman (MbS) and Aramco executives are scrambling to IPO Aramco before the IPO market shuts, and the global economy enters a trade recession.

The Aramco IPO has had nearly four years of delays but could start trading on the Tadawul exchange by December, with international offerings in 2020/21.

Aramco is expected to release the IPO prospectus on November 9, The Wall Street Journal said.


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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.