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Elite Capital International – Aramco IPO Update Part 1 – The Players
After three years of planning and several false starts, Saudi Arabia is in the final stages of preparing the much-hyped initial public offering of state-owned oil firm Saudi Aramco.
By: Elite Capital International Ltd
Aramco is looking to sell just 1% to 2% of itself on Riyadh's exchange, but this would still make it the world's largest ever flotation worth more than $20 billion. An additional overseas listing may follow, with New York, London and Singapore all vying for the lucrative mandate.
The IPO is a central pillar of the reform program of Crown Prince Mohammed bin Salman (MBS). (https://www.wsj.com/
These are some of the key points investors need to know:
Saudi Arabia announced a series of government changes in August in preparation of the planned IPO of Aramco.
Prince Abdulaziz bin Salman: Energy Minister. The crown prince's older half-brother was appointed to the role, replacing Khalid Al-Falih who had previously overseen a $427 billion 10-year plan for Saudi's industrial sector.
Fahd bin Mohammed Al-Essa: Head of the royal court, a powerful gatekeeper position in the absolute monarchy. He previously served in the Defense Ministry.
Amin Nasser: Chief Executive of Aramco. He has worked for the oil group for 30 years.
Part 2 – The Numbers Coming Next Week. To find out more, contact us at email@example.com or visit www.elitecapitalinternational.com to see how we can secure your financial future.
Elite Capital international Ltd