More than 5% of Saudi Aramco could be offered beyond the IPO

Saudi billionaire investor Prince Alwaleed Bin Talal on Monday floated the idea that the kingdom could publicly list an increasing portion of its state oil giant Saudi Aramco in the coming years.

Prince Alwaleed bin Talal

On Sunday, Saudi Aramco CEO Amin Nasser told CNBC the listing is on track for the second half of 2018. During that interview, Nasser denied reports that Saudi Aramco is considering shelving the IPO in favor of selling private shares to big institutional investors or sovereign wealth funds, the investment vehicles that manage nations’ money. He also swatted down a report that China is a leading contender for such an investment.

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Amin Nasser

The precipitous drop of oil prices from more than $100 a barrel in 2014 to roughly $55 today has hastened Saudi Arabia’s transition from a petrostate to a Gulf nation built on a broader range of industries.

 Source Credit: CNBC
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