Saudi Aramco announces intention to offer IPOs on domestic stock market

Riyadh, Saudi Aramco, the world's largest integrated oil and gas company on Sunday announced its intention to proceed with an initial public offering (IPO) on Riyadh's Tadawul Stock Exchange in the presence of Yasir Othman Al Rumayyan, Chairman of the Board of Directors of Saudi Aramco and Amin Hassan. Nasser, President and Chief Executive Officer of Saudi Aramco.

The Kingdom's Capital Market Authority, CMA, approved the company's application for the initial public offering.

Yasir Othman AlRumayyan said, ''Today is important for Saudi Arabia under the wise leadership of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, expressing his pleasure that Aramco has received the approval of the Capital Market Authority to offer its shares in the IPO to become a listed company in the Saudi Stock Exchange (Tadawul).

Source: Saudi Press Agency