Saudi Aramco, Dhahran based petroleum and natural gas company, is planning to introduce an IPO by 2021 as highlighted by Khalid al-Falih. The company is looking forward to a valuation of 2 Trillion US dollar or more.
Earlier the company had announced the IPO in 2016. The officials were ready to launch the IPO in the later half of 2018 but then it was delayed for 2019. Now it is finally delayed for the later half of 2020 or first half of 2021.
Aramco would be offering 5% of equity through the IPO for 100 Billion US dollars thereby giving Aramco 2 Trillion US Dollars.
It’s interesting to note that how investors would react to this IPO as the leading economies are shifting towards renewal and other alternatives from fossil fuel energy. On the other hand, this IPO may lead to increase in oil prices in international markets.
Saudi Aramco, is oil and natural gas company based out of Saudi Arabia founded in 1933 and owned by Saudi Arabia government. Currently it is being headed by Amin H Nasser. The company generated a revenue of $ 465.5 billion in 2017 with a net profit of $33.8 billion in 2017.
For more information on IPOs, visit www.iponivesh.com