Saudi Oil Minister Says Aramco IPO Is `Most Likely' in 2019
- Khalid Al-Falih says Riyadh waiting for "market readiness"
- Aramco sale is expected to be the world’s largest ever IPO
An offshore gas platform sits at the Karan gas field, owned and operated by Saudi Aramco.
Source: Saudi Aramco
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The initial public offering of Saudi Aramco will "most likely" happen in 2019, the kingdom’s oil minister said on Friday, confirming a delay for what’s likely to be the world’s largest ever share sale.
"The timing I think will depend on the readiness of the market, rather than the readiness of the company or the readiness of Saudi Arabia,” Khalid Al-Falih, who’s also the company’s chairman, said at the St. Petersburg International Economic Forum in Russia on Friday.