Saudi Bourse CEO Sees Aramco IPO as `Certain' Despite Delay - Bloomberg:
Saudi Arabia’s bourse is in no doubt that state-owned oil giant Aramco will eventually list its shares on the local stock market following a delay in what was going to be one of the world’s largest IPOs.
“I’m certain Aramco will join the market,” Khalid Abdullah Al Hussan, the chief executive officer of the Saudi stock market, said in an interview in Riyadh on Wednesday. “The decision has been made to take the company public, and the government has announced, several times, that they are looking at the proper time for listing Aramco.”
Al Hussan declined to give more details on the possible timing of the share sale. The Tadawul All Share Index fell as much as 4.6 percent on Wednesday before closing 3.1 percent lower, the biggest slide since September 2016, amid a rout in emerging market assets.
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