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Aramco hoping to begin its planned IPO this Sunday: Reuters

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Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, Sunday, Sept. 15, 2019.

Amr Nabil | AP

DUBAI — Saudi state-owned oil giant Aramco is planning to announce the start of its long-anticipated public offering on Sunday November 3, Reuters reported Tuesday, citing three sources with direct knowledge of the matter.

State broadcaster Al Arabiya reported that shares of the company will begin trading on the Tadawul, Saudi Arabia’s stock exchange, on December 11. The local outlet also said Aramco aims to announce the transaction price on November 17 with a final IPO price announcement planned for December 4.

In a comment to CNBC, Aramco said it…



Source cnbc.com

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