Aramco share sale curb rules out overseas listing for at least a year - Reuters

Aramco share sale curb rules out overseas listing for at least a year - Reuters:

The Saudi government plans to sell 2% of state oil giant Aramco in a domestic listing on Dec. 11, three sources familiar with the matter said, but restrictions on future share sales mean an international IPO is ruled out for at least a year.

Final pricing for the IPO (initial public offering) is scheduled for Dec. 5 and the world’s most profitable company is expected to start trading on the Riyadh bourse six days later, the sources said.

The Saudi government will face a one-year restriction on selling more Aramco shares following the domestic listing, according to the sources, meaning any overseas IPO is unlikely to be held in 2020.