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Saudi to have '1-year restriction' on selling more Aramco shares after IPO

The government is looking to list 2% of the company on the Saudi bourse rather than listing the entire share capital on the exchange, the sources said.

Topics
Saudi Aramco IPO | Saudi Aramco | Saudi Arabia economy

Hadeel Al Sayegh & Marwa Rashad | Reuters  |  Dubai/Riyadh 

The Saudi government will be subject to a one-year restriction on selling additional Aramco shares in the oil company after a planned initial public offering (IPO), three sources familiar with the matter said. The government is looking to list 2% of the company on the Saudi bourse rather than listing the entire share capital on the exchange, the sources said. Normally public companies list the entire share capital on the exchange and have a portion of that as free float. Aramco was not immediately available to comment. Aramco, the world's most profitable company, fired ...

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First Published: Tue, November 05 2019. 18:37 IST
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