Saudi Arabia’s state oil company is revving up plans for an initial public offering and accelerating the timeline for what would be the world’s biggest listing to as soon as early next year, according to people familiar with the discussions.
The IPO of state-owned Saudi Arabian Oil Co., known as Saudi Aramco, is being sped up as government officials hope to capitalize on the positive international reaction to the company’s debut bond sale in April, which raised $12 billion, people close to the talks said.
Bad idea. Saudi Aramco belongs to the people of Saudi Arabia. It cannot be owned by anyone else. There'd need to be some sort of caveat to ensure only citizens of Saudi Arabia can own shares in Saudi Aramco.
Talk about a company with zero prospects for growth. 🤦♂️ - If they weren’t going out of business, they wouldn’t be doing an IPO. They are so smart to be cashing in.
Aramco will go public in early 2021 and will only be listed on the Shanghai and Riyadh stock exchanges
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