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Sunday, 11 March 2018

“Work required to list Aramco” will be done by 2H2018, but not the IPO itself

“Work required to list Aramco” will be done by 2H2018, but not the IPO itself: The Saudis appear to be throwing everyone off once again on when exactly they plan to have the Aramco IPO. CEO Amin Nasser said on Thursday that all work required from the oil giant for the IPO will be completed in the second half of 2018. Meanwhile, Aramco’s Chairman Khalid Al Falih hinted that the listing could be pushed to 2019. “Between 31 December and 1 January there is no value lost for the kingdom. So, I don’t see this artificial deadline that you refer to as being significant,” Al Falih told Bloomberg. Al Falih also said the IPO would be “anchored” by a listing on Saudi Arabia’s local exchange and any international listing would be announced in due course, if at all. Their statements come as Aramco signed a number of agreements with UK companies, including with Shell, Amec Foster Wheeler Plc, and a partnership with think tank Chatham House, during Mohamed Bin Salman’s UK tour, the company said.

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