How Saudi Arabia's King Salman feels about Aramco IPO - Arabianbusiness:
Saudi Arabia's King Salman said Wednesday that oil giant Aramco's planned IPO will attract investment and create thousands of jobs, in his first comments on the blockbuster stock market listing.
Riyadh on Sunday put a value of up to $1.71 trillion on Aramco as it said it would sell 1.5 percent of the company in an initial public offering worth $24-25.6 billion -- potentially the world's biggest.
The listing "will allow investors inside and outside the kingdom to contribute to this leading company, allowing for investments and creating thousands of jobs", the king said in his annual address to the consultative Shura Council, according to the foreign ministry.
"It will enhance the size of Saudi Arabia's financial market to the ranks of global markets, as well as enhance transparency and the governing system of the company, in line with international standards."
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