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Saudi Crown Prince Says Aramco's Planned IPO Is On Track

  • Planned share sale could take place next year: Asharq Al Awsat
  • World’s most profitable company may list on multiple bourses
An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco.

An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco.

Photographer: Simon Dawson/Bloomberg
Updated on

Saudi Crown Prince Mohammed Bin Salman said Aramco will go through with an initial public offering as soon as next year, though no decision has been made on where the stock will trade.

The world’s top crude exporter aims to offer Aramco stock on its domestic exchange and at least one international bourse, with the prince projecting the company’s value at about $2 trillion. Aramco’s financial performance, revealed in April, indicated a valuation closer to $1.2 trillion if investors judge it by the same metrics as other giant oil companies.