Saudi eyes private stake sale in Aramco:
"Saudi Arabia’s finance minister has confirmed the kingdom is exploring a private stake sale in state energy giant Saudi Aramco, with plans for an international listing just one option for a privatisation billed as the largest initial public offering in history.
Mohammed Al-Jadaan said in an interview with the Financial Times on Thursday that while plans for listing Aramco internationally were still being debated at the highest levels of the kingdom, the only confirmed component was an offering on the domestic Tadawul exchange. Private stake sales to strategic investors are also being considered.
The kingdom is aiming to finalise plans for the IPO’s full structure by the end of this year, Mr Al-Jadaan said. Bankers, lawyers and consultants are waiting for news on the offering that is expected to generate record fees, with the kingdom valuing the total company at more than $2tn."
'via Blog this'
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