Saudi Aramco CEO The Public Listing Will happen Soon
Saudi Aramco, which is one of the largest oil-producing companies in the world, will soon see a public listing. The talks of Saudi Aramco getting listed has been going on from the last two years, but nothing has been done about it. Saudi Arabia government has a 100 percent stake in Saudi Aramco which makes them the owner of this giant corporation. Now in a recent press conference, Saudi Aramco CEO Amin Nasser said that company is ready to get listed on the stock exchange. Nassi, while addressing the press, said that the company is waiting for approval from shareholders for public listing. Once they get it, Saudi Aramco can be seen on Riyadh stock exchange. The talks of taking Saudi Aramco going public have been going on from the last few months. However, because of various controversies and complications, the company decided to delay it. But now Nasser said that Royal Highness Prince Abdulaziz had approved this listing and it’s going to happen pretty soon.
Nasser also mentioned that Saudi Aramco is going to listed internationally, but their primary objective is going to be getting listed domestically. Because of various controversies regarding the company’s financial status, Nasser was asked about whether he would like to see Saudi Aramco on Asian stock exchange. He replied that they are active to list anywhere, but their primary objective is to get it listed domestically. Reports show that the Kingdom wants to sell 1% of its stake in the Sadi Aramco by way of public listing this year. The Kingdom is planning to sell only 5% of stakes from the company by public listing, which makes it one of the most profitable state-owned enterprises in the world. Because of corporate complexities, oil giant company delayed its listing, but it seems like now everything’s been sorted out.