Saudi Aramco’s IPO Still on for 2018

The world’s biggest oil company, Saudi Aramco, is still planning to go public next year.

“We’re still looking at 2018 and no change in our plan to deliver in that time,” Aramco CEO Amin Nasser told CNNMoney’s John Defterios at the World Economic Forum in Davos.

Saudi Arabia revealed plans to sell part of its oil giant last year when deputy crown prince Mohammed bin Salman unveiled a new economic strategy.

The kingdom was forced to rethink after a slump in oil prices blew a huge hole in its finances.

If it happens, the sale of Saudi Aramco is expected to be the biggest IPO in history.

Saudi officials have said they expect an IPO to value Aramco at around $2 trillion. If the market agrees, selling just 5% would raise $100 billion — four times as much as Alibaba’s (BABA, Tech30) IPO in 2014, the largest to date.

via CNN

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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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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