Saudi Aramco faces a momentous year as IPO deadline looms | ZAWYA MENA Edition:
"When in October 2016, Crown Prince Mohammed bin Salman announced that the Kingdom’s national oil champion, Saudi Aramco, would go public in 2018, it seemed as though there was all the time in the world to prepare the company for a record-breaking initial public offering on global stock markets. How time flies. As 2017 progressed, the pace of preparation accelerated ahead of that deadline, but it also became apparent that there were challenges in sticking to an unbending plan for the biggest IPO in history, and that the Kingdom had other options as it looked to raise $100 billion from the sale. But amid the debate and uncertainty over the precise eventual form of the IPO, Aramco quietly stuck to its strategic plan: Diversifying away from the being a mere crude pumper to become a diversified energy conglomerate at the center of Saudi industry, as well as a global force in the energy business. That will surely continue, at an even faster pace, in 2018."
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