Remember meForgot password?
    Log in with Twitter

article imageSaudi Aramco confirms plans to list on Riyadh bourse

By AFP     Nov 3, 2019 in World

Saudi Aramco on Sunday confirmed it planned to list on the Riyadh stock exchange, describing it as a "significant milestone" in the history of the energy giant.

"Saudi #Aramco confirms its intention to list on @tadawul, the Saudi National Stock Exchange," it said in a tweet.

The final offer price and the number of shares to be sold "will be determined at the end of the book-building period," it said on a new website dedicated to the IPO.

"Today marks a significant milestone in the history of the company and important progress towards delivering Saudi Vision 2030, the kingdom's blueprint for sustained economic diversification and growth," Aramco chairman Yasir al-Rumayyan said in a statement.

Aramco had initially been expected to sell a total of five percent on two exchanges, with a first listing of two percent on the Tadawul Saudi bourse followed by a three percent listing on an overseas exchange.

The company made no mention Sunday of a foreign listing.

More about Saudi, Energy, Aramco, Ipo
More news from
Latest News
Top News