Saudi Capital Markets Authority approves the IPO of Saudi Aramco


DOHA (Sputnik) – The Capital Markets Authority (AMC) of Saudi Arabia approved the request of state oil company Saudi Aramco for IPO.

"The Capital Markets Authority announces the issuance of a resolution that approves the application of Saudi Aramco for registration and offer of part of its shares," says the statement of the stock exchange authority.

It is required that the approval for the application is valid for six months from the day of the resolution of the meeting of the AMC, and will be considered canceled if the offer and the list of the company are not completed in this period.
Saudi Aramco announced its plans to go public already in 2016, but the list was postponed several times.

Crown Prince of Saudi Arabia Mohammed bin Salman aspired earlier than during the public sale offer, the company is valued at about two billion dollars.

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