Saudi Aramco’s plan to take a portion of its business public next year remains on track, the oil giant’s chief executive Amin Nasser told CNBC in an exclusive interview.
Nasser made his comments Sunday following recent reports in which the initial public offering for the globe’s largest energy company could be delayed into 2019 or shelved in favor of selling private shares to sovereign wealth funds. Saudi Aramco has tried to swat down those rumors, in addition to Nasser denied the reports again in an interview with “Squawk Box”from the command center at Saudi Aramco headquarters in Dhahran.
“We have always said in which we will be listing in 2018, in addition to to be more specific, from the second half of 2018,” he said. “However, I think journalists in addition to writers — they are expecting more in addition to more information, in addition to we are governed by, you know, certain rules with regard to talking about the IPO in addition to all of in which.”
“The IPO is usually on track. The listing venue will be discussed in addition to shared in due course,” Nasser added.
Saudi Aramco, the globe’s largest oil company, plans to list its shares on the Saudi domestic stock market, the Tadawul, in addition to one or more foreign exchanges. However, This kind of has yet to choose the overseas market, fueling speculation about the kingdom’s plans. The Financial Times reported last month in which China was emerging as a front-runner from the possible plan to delay the IPO in addition to sell shares to sovereign wealth funds.