International listing ‘still on cards’ for Saudi Aramco, says minister

      Published on Wednesday, 5 February , 2020      443 Views     
International listing ‘still on cards’ for Saudi Aramco, says minister


Saudi Aramco is still considering listing shares abroad, the kingdom’s Finance Minister Mohammed Al-Jadaan said.




“It’s still on the cards, we made that very clear,” Al-Jadaan told Bloomberg TV in an interview in Davos. “We will consider it, but I don’t think it’s going to be anytime soon.”

Aramco raised $29.4 billion in the world’s biggest-ever initial public offering, selling shares at 32 riyals each and overtaking Microsoft and Apple as the most valuable listed company.

The oil giant’s IPO ended up being very different from what Crown Prince Mohammed Bin Salman had envisaged when he first floated the idea in 2016 with an ambition to raise as much as $100 billion.

Aramco offered less than 2 percent and opted for a local listing after global investors balked at its hopes of valuing the company at $2 trillion.

Instead, Aramco relied heavily on local investors and funds from neighbouring Gulf Arab monarchies.



The shares retreated 0.3 percent to 34.45 riyals in Riyadh on Wednesday.

Keywords:
Category Business, Government | 2020/02/05 latest update at 2:28 PM
Source : Arabian Business | Photocredit : Google
444 Views
Comments Add comment



Gulf Media

Related Articles

The editorial staff of Saudi Arabia Today would like to give all of its readers from Gulf and Saudi Arabia and the whole world the opportunity to participate actively in the development of the website! If you have something interesting, fun, scandalous - just something worth to be seen from more people. Capture it and share it in the Saudi Arabia Today with a short text.

Do you have information you want to reach our readers?

Send article/s

You can subscribe to our Facebook, Twitter and Google pages or use our RSS feed channel to always read the most important news about Saudi Arabia, the Gulf and the world.


Sponsored Publications



Uber Eats expands to Makkah, Madinah
Saudi Arabia Saudi Arabia news

Uber Eats expands to Makkah, Madinah

Delivery service Uber Eats has expanded into two additional Saudi cities, launching in both Makkah and Madinah. In…

First case of coronavirus confirmed in Egypt

US arranging meeting between Netanyahu and Saudi crown prince

London’s community of wealthy Middle East property buyers continues to grow

Saudi Arabia pledges full support to Greek Cypriot administration King

Saudi Arabia pledges full support to Greek Cypriot administration

Saudi Arabian Foreign Minister Prince Faisal bin Farhan al-Saud expressed full support for the Greek Cypriot administration amid…

Saudi Cabinet voices support for the territorial sovereignty of Cyprus Government

Saudi Cabinet voices support for the territorial sovereignty of Cyprus

Saudi Arabia has voiced its support for Cyprus’ territorial sovereignty amid growing tensions following the discovery of oil…

How G20 presidency is likely to deliver Saudi economic boost Government

How G20 presidency is likely to deliver Saudi economic boost

Saudi Arabia becoming the first Arab nation to take over the G20 presidency is likely to deliver a…

Saudi Arabia offers ‘full support’ to Cyprus amid Eastern Mediterranean tensions Government

Saudi Arabia offers ‘full support’ to Cyprus amid Eastern Mediterranean tensions

Saudi Arabia’s King Salman received on Sunday the Cypriot Foreign Minister Nikos Christodoulides. They discussed bilateral relations between…

GULF TV

Popular in GULF TV

Saudi Crown Prince Wife|Why Not with him In the Foreign Tour’s

2843 Views

Saudi Crown Prince Wife Princess Sara bint Mashoor, Why Not with him In the Foreign Tour’s. Prince Mohammed…

Latest videos in GULF TV

Events

Lifestyle

Culture

Sport

Science & Technology

Government