Saudi ARAMCO Optimistic About 2 Trillion IPO

It’s a pretty bad time to be thinking about going public if you’re an oil company. Oil has lost half its value in a little over two years, and the market for IPOs is in the doldrums.

Saudi Aramco is no ordinary oil company, however. The world’s top producer says it will be ready to launch the biggest IPO ever by 2018.

“We are optimistic,” CEO Amin Nasser told CNNMoney’s John Defterios. “The market has started to recover, we expect it to recover even more in 2017 and I think the time in 2018 will be almost right.”

Saudi Arabia revealed its plan to sell part of the oil behemoth earlier this year. The oil price slump has blown a huge hole in the kingdom’s budget, and even a tiny share of Aramco would be worth tens of billions of dollars.

via CNN

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza