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IPO Watch: Aramco Poised For 2018 Debut

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Saudi Aramco's is set to go forward with its IPO next year, Oman's oil minister told CNBC.

At an energy industry conference in Abu Dhabi, Oman's Mohammed bin Hamad al-Rumhi was asked for an answer regarding his expectations over Saudi Aramco's potential IPO next year. He replied: "If CNBC says yes, then I say yes."

The initial public offering of Saudi Aramco, the world's largest energy company, is expected to take place in the second half of 2018. However, recent reports have rumored that the company could delay its international listing into 2019 or even abandon it altogether in favor of selling private shares to sovereign wealth funds.

Meanwhile, Reuters reported that although preparation for the IPO is proceeding, no decision has been taken yet on the venue for the international listing. Reuters cited Al Arabiya Television channel as its source.

"Preparations are proceeding to the fullest extent for listing in 2018," Amin Nasser, President and CEO of Saudi Aramco, told the channel in an interview aired on Sunday.

Nasser told Al Arabiya Aramco's shares will certainly be listed on the Saudi stock market, Tadawu. As for other markets, a complete study was made," he said naming New York, London, Tokyo and Hong Kong.

by RTT Staff Writer

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