According to Bloomberg, Saudi Aramco’s IPO will start as soon as next month and is expected to be launched in November.
In addition, Reuters said that Saudi Aramco’s listing value is as high as 2 trillion US dollars. The Group has contacted Abu Dhabi Investment Authority and Singapore’s sovereign fund GIC to enter the stock. Since the negotiation is still in its preliminary stage, there is no investment decision. The report refers to the management of Saudi Aramco and the meeting of the Abu Dhabi team, the world’s third-largest sovereign fund, or in October.
Saudi Aramco plans to list on the Saudi Stock Exchange. In addition to the 15 underwriting teams of Faba, Deutsche Bank, UBS, Bank of America and Citigroup, it has recently joined BOC, Royal Bank of Canada, Santander and Mizuho.