ARAMCO PUBLISHES THE PROSPECTUS OF ITS IPO
DUBAI (Reuters) – Aramco will sell 0.5% of its shares to individual investors and the Saudi government will not sell any additional shares for six months after the IPO of the oil giant, shows the prospectus released Saturday.
The document gives no details on the part of the group that will be listed or the commitments of large investors.
After several false starts, the kickoff of the IPO was officially given on November 3rd.
Saudi Arabia hopes to raise billions of dollars that it intends to use to diversify its economy, for the time being mainly focused on exports and oil.
(Saeed Azhar and Hadeel Al Sayegh, Nicolas Delame for French service)