IPOs

Aramco to publish IPO prospectus before the end of the month

The Saudi state oil company could float 1% to 2% of its shares on its domestic exchange by late November or early December

Saudi Arabia’s preparations to list Saudi Arabian Oil Co are in full swing, with the company expected to publish its prospectus before the end of the month, people familiar with the matter said, paving the way for a final decision soon after on whether to proceed with the float.

Aramco, as the oil giant is known, is in the final stages of preparing to list shares on the domestic Tadawul exchange, as the government pursues a key part of Crown Prince Mohammed bin Salman’s economic-reform program.

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