Saudi Aramco IPO to happen within two years (2020-2021) – minister. Saudi Aramco is valued at an estimated $2 Trillion! IPO funds would generate more than 3X what is needed to build NEOM Babylon ($500 Billion). Beast will have more than enough investment capital to build the world’s last Babylon.
Saudi Aramco’s IPO was initially scheduled to take place last year but was postponed due to investment backlash from the Khasshogi killing.
Arabian Business. Thursday, March 7, 2019
Saudi Aramco, the world’s biggest oil company, is expected to launch its long-awaited initial public offering within two years (2021), an Arab newspaper reported, citing comments from Khalid A. Al-Falih, the minister of energy, industry and mineral resources.
The minister made his comments during a visit to the headquarters of Saudi Aramco’s headquarters on Wednesday, according to a report by the Okaz newspaper.
The IPO was initially scheduled to take place last year but was postponed. Saudi Crown Prince Mohammed bin Salman said the listing would go ahead by 2021 and he estimated the company’s valuation at around $2 trillion, Bloomberg reported.