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.
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.
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