Saudi Aramco May Unveil Financials In Early 2018

21 Sep 2017   Saudi Arabia

If Saudi authorities decide this year which foreign stock market will be the venue of what would be the biggest IPO in history, and if the government finalizes energy subsidy reforms, Saudi Aramco may be ready to disclose its audited financial figures in early 2018, Reuters reports , citing three sources. If so, it would be the first time that the world is privy to Aramco financials. Saudi authorities have been hoping for a US$2-trillion valuation of the company, and have plans to sell a 5 percent of that $2-trillion pie by the end of next year to fetch roughly US$100 billion for funding the Vision 2030 program to diversify away from oil. Many outside observers and analysts think that this target valuation is too high. “Aramco will have its 2017 results by the first quarter, the audited accounts will be available then, so the IPO could happen after […]

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