Aramco IPO could kick-off as early as November
The state-owned oil company could sell up to 2% of its shares via an IPO on Saudi Arabia’s domestic exchange as early as November, according to a report by the Wall Street Journal.
Saudi Aramco is pushing ahead with its initial public offering (IPO), despite its facilities being attacked by a drone strike in September, with the listing potentially coming as early as November, according to a report by the Wall Street Journal.
The state-owned oil company could sell up to 2% of its shares on Tadawul, Saudi Arabia’s domestic stock exchange, according to the report.
Learn how to trade the Saudi Aramco IPO with IG
Aramco to release IPO prospectus in October
Aramco is reportedly set to release its IPO prospectus in Arabic as early as October 25, with an English version provided two days later, sources told the Wall Street Journal.
The news is a welcome surprise for investors, with Saudi officials hinting that the IPO could be delayed until next year following drone strikes that weakened its infrastructure and led to a hike in oil prices due to supply fears.
Saudi Aramco’s CEO Amin Nasser has said that oil production capacity will return to normal by the end of November and will not impact the IPO.
Saudi Aramco IPO targeting $2 trillion valuation
Saudi Arabia’s Crown prince Mohammed bin Salman is hoping to raise $2 trillion from the Aramco listing – making it the world’s largest IPO.
The plan is to list a 5% of the state-owned oil company over two phases, with the first offered to investors through domestic markets and the second listing available internationally.
Thinking about trading oil stocks? Open a demo or live account with IG
The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
Act on share opportunities today
Go long or short on thousands of international stocks with CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
