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Saudi Aramco CEO confirms that IPO will have a secondary list



The initial public offering (IPO) of the largest oil company in the world will take place whenever shareholders decide, according to the CEO and President of the company.

"What we have always said is that Aramco is ready to be listed when shareholders decide to list," Aramco President and Amin Nasser told reporters in Abu Dhabi on Tuesday.

"And as you heard from His Royal Highness Prince Abdulaziz yesterday, it will be very soon. So, we're done – that's the bottom line. "

The oil giant has delayed its IPO, originally scheduled for 201

8, announcing that Saudi concerns over public control over its finances and the complexity of its corporate structure.

" The main list is to list locally level, but we are also ready to be listed outside in other areas, "Nasser said.

Asked if he would prefer to see Aramco's list in Tokyo, Japan, he replied," We are ready to list anywhere shareholders decide. "[19659007] Amin Nasser, CEO of Aramco, speaking at the 2018 IHS CERAWeek in Houston, Texas.

Mary Catherine Wellans | CNBC

Speaking on Monday, Saudi Arabia's new energy minister, Prince Abdulazalazin, said in a statement. of the Saudi Aramco regulation as it prepares for the long-awaited IPO.

The split between Aramco, the corporation and the ministry as a regulator is mandatory, "he told CNBC's Helima Croft report to an audience of delegates.

"The regulator cannot be a person, the regulator has to be an institution. This regulator role has to be defined and the contours of the regulator role have to be understood," he added.


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