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Saudi Aramco IPO to Offer Stake in All Operations of Company

  • Aramco to announce financial advisers ‘very soon’ for IPO
  • There are ‘no obstacles’ to share sale: CEO Amin Nasser
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The world’s biggest oil company is planning to sell shares in the entire business and not just in its refining or distribution operations, its chief executive officer said in an interview.

Saudi Arabian Oil Co., known as Saudi Aramco, will announce “very soon” a list of investment banks and consultants advising it on the initial public offering, CEO Amin Nasser said in Bahrain, without specifying a date. It plans to list shares on the Saudi stock market and is also considering foreign bourses in London, Hong Kong and New York, he said. Aramco’s plan to sell a stake of about 5 percent could value the company in trillions of dollars.