03 noiembrie 2019

Saudi Arabia formally starts IPO of state-run oil firm


Saudi Arabia formally started its long-anticipated initial public offering of its state-run oil giant Saudi Aramco on Sunday, which will see a sliver of the firm offered on a local stock exchange in hopes of raising billions of dollars for the kingdom. A statement from the kingdom’s Capital Market Authority announcing its approval for the share sale served as a starting gun for an IPO promised by Crown Prince Mohammed bin Salman since 2016. The firm’s shares will be traded on Riyadh’s Tadawul [...]