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Tags: ML | Saudi | Arabia | Investment | Forum

Saudi-owned TV: Public Offering for Aramco Coming Next Month

Saudi-owned TV: Public Offering for Aramco Coming Next Month

Tuesday, 29 October 2019 03:39 AM

RIYADH, Saudi Arabia (AP) — The Saudi-owned satellite news channel Al-Arabiya, citing unnamed sources, is reporting that the initial public offering of state oil giant Saudi Aramco is planned for Dec. 4.

The Dubai-based channel did not elaborate.

The announcement on Tuesday comes as Saudi Arabia is hosting the Future Investment Forum in Riyadh, the brainchild of Saudi Crown Prince Mohammed bin Salman.

Prince Mohammed hopes offering a sliver of Aramco on stock markets will bring $100 billion he needs for redevelopment plans in the kingdom.

However, that requires a $2 trillion valuation, something analysts say may not be possible.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
The Saudi-owned satellite news channel Al-Arabiya, citing unnamed sources, is reporting that the initial public offering of state oil giant Saudi Aramco is planned for Dec. 4.The Dubai-based channel did not elaborate.The announcement on Tuesday comes as Saudi Arabia is...
ML,Saudi,Arabia,Investment,Forum
99
2019-39-29
Tuesday, 29 October 2019 03:39 AM
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