Saudi Aramco IPO prospectus ‘virtually ready,’ with new reserves valuation likely to top 260bn barrels | Arab News:
"The prospectus for the initial public offering (IPO) of Saudi Aramco is “virtually ready,” including a revised valuation of the oil giant’s reserves, a person familiar with the company’s plans has told Arab News.
The news came as Saudi Arabia’s Crown Prince Mohammed bin Salman said OPEC is seeking to cooperate with Russia on oil supplies for the next 10-to-20 years. The crown prince, currently leading a Saudi delegation in the US, added that OPEC has agreed on the general outlines for long-term oil supply cooperation with Russia.
The person familiar with the company’s plans, who declined to be identified because details of the prospectus were not in the public domain, said the plans for an IPO were on track for later this year, and that the prospectus was awaiting government approval and some finalizing some details, like valuation and listing venue. “There are a few spaces left blank but (the prospectus) is almost ready to go,” he said."
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