Saudi Aramco IPO to Launch in December?

According to a Reuters report, the world’s largest oil company Saudi Aramco is expected to list its IPO on Saudi’s stock exchange on December 11. The kingdom’s Capital Markets Authority is expected to announce the initialization of the IPO process on Sunday.

While the company itself has failed to offer an official comment confirming this news, Prince Abdulaziz bin Salman has confirmed that there will be announcement made soon by the Saudi Crown Prince, who is also the energy minister.

The Reuters report was preceded by an update on the Al Arabiya news channel, which stated that shares subscription could commence by December 4. Saudi Aramco is estimated to be valued at around $2 trillion and is considering listing around 1-2% of its stake for trading to raise around $20 billion worth of capital.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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