Saudi Crown Prince Says Aramco IPO May Be 2019, Reuters Reports
- Plan has been for share sale to take place this year
- Mohammed bin Salman says OPEC is seeking long-term Russia pact
Saudi Arabia Crown Prince Mohammed bin Salman
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
Saudi Arabia Crown Prince Mohammed bin Salman said the initial public offering of state oil company Aramco could be delayed until early 2019, pushing back a central plank of his plan to modernize the country’s economy.
The sale of a 5 percent stake in the company could take place at the end of 2018 or early 2019, depending on market conditions, Prince Mohammed told Reuters in an interview.