Exclusive: Saudi plans gradual listing at home for Aramco: sources - Reuters:
Saudi Arabia plans to list 1% of state oil giant Saudi Aramco on the Riyadh stock exchange before the end of 2019 and another 1% in 2020, sources familiar with the matter told Reuters.
Crown Prince Mohammed bin Salman eventually wants around 5% of the company to be public as the centerpiece of his plan to diversify the Saudi economy away from oil, attract foreign investments and create jobs.
But rather than go straight for an initial public offering on an international stock market, the company is planning a gradual listing at home first, according to people familiar with the matter.
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