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Friday, 24 February 2017

As Saudis prepare to sell shares in oil giant, some have misgivings | Reuters

As Saudis prepare to sell shares in oil giant, some have misgivings | Reuters:

"Jamil Farsi, a prominent Saudi Arabian jewellery tycoon, made an impassioned plea to the investment minister at a meeting of the Jeddah Chamber of Commerce this month.

"I don't know anything about economics but I beg you, and I beg the officials in the country, not to sell Aramco - not 5 percent, not 1 percent," he said.

Investment minister Majed al-Qasabi replied the economy would benefit from the sale of shares in national oil giant Saudi Aramco. It is expected to be the world's largest initial public offer, raising tens of billions of dollars."



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