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Saudi Aramco CEO Says 2018 Will be Right Time for Listing

Source: Reuters 10/11/2016, Location: Middle East

Saudi Aramco feels "comfortable" that by 2018 oil prices will have recovered and the market conditions will be right for what could be the world's largest public listing, its chief executive Amin Nasser said.

Speaking at the World Energy Congress in Istanbul, Nasser said that all markets were still being considered for the initial public offering (IPO) of up to 5 percent of Aramco. He also said the company plans to invest $300 billion over the next decade, with the focus on gas.

Saudi's Deputy Crown Prince, Mohammed bin Salman, unveiled ambitious plans earlier this year aimed at ending the country's "addiction" to oil and transforming it into a global investment power. The listing of less than 5 percent of state-run Aramco is a centrepiece of that effort.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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