Saudi Aramco on Saturday released details of its IPO that will be the first opportunity for investors to own a piece of the world’s most profitable company and achieve one of the key goals of the Kingdom’s Vision 2030 economic reform plan.
Crown Prince Mohammed bin Salman.
The details were released in a prospectus on Saudi Aramco’s website. The company said the offering period will begin on November 17 and close on December 4. It will price its shares on December 5, with trading on the Saudi stock exchange, the Tadawul, expected to start in mid-December.
The prospectus did not say how much of the company will be floated, but it did specify that up to 0.5% of shares will be sold to individual investors.
The public offering could be largest in history.
