According to the course Crown Prince deems investors’ support enough to go through with much-awaited IPO. This publishing has been expected for years and now it is finally becoming the reality.
If this is done, and the oil giant which is thought to be the more profitable company in the world is going partially private, it is going to be the biggest shift in Saudi oil market since 1970s when Saudi Aramco was nationalized.
More than three years after the IPO was first mooted, Aramco published a so-called intention to float on Sunday. [] The IPO is a cornerstone of Prince Mohammed’s Vision 2030 plan to make the Saudi economy ready for the post-oil era.
5 percent off of the IPO earnings is going to be out to reforming national economy of Saudi Arabia. It is predicted that capitalization of the company is going to be extended beyond $2 trillion – at least such was the plan before IPO process was frozen.
It is still to be seen, what Salman bin Abdulaziz Al Saud is expecting from the process now.
