Saudi Aramco, the earth’s largest energy company, is actually fully prepared for a hotly anticipated public share offering from the second half of 2018, says Aramco president along with CEO Amin Nasser.
the idea is actually just waiting for one thing, says Nasser. The green light via its sole shareholder: the Saudi government.
“In terms of readiness, we are ready. As we always said, the company by the second half of 2018 will be ready,” Nasser told CNBC in an interview with Andrew Ross Sorkin via the earth Economic Forum in Davos, Switzerland.
The sale of roughly 5 percent of Aramco is actually likely to value the company at $1 to $2 trillion, creating the idea the largest initial public offering ever. The IPO is actually the cornerstone of Crown Prince Mohammed bin Salman’s plan to create the earth’s largest sovereign wealth fund along with diversify Saudi Arabia’s oil-dependent economy.
however rumors about delays to the share sale have long swirled, fueled by the slow drip of information on key aspects of the IPO, including where the shares will be listed.