The Saudi Energy Minister denied on Thursday a cancellation of the proposed IPO of the Saudi Aramco oil company. The IPO of the century is worth $ 2 trillion, twice the market capitalization of Apple.
“The government remains committed to the IPO of Saudi Aramco, according to the appropriate circumstances and the appropriate timing chosen by the government,” said Khalid al-Falih, quoted in a statement.
The Saudi Minister of Energy adds that Ryad has taken steps to prepare this operation and that the timing of its implementation will depend on various factors, including favorable market conditions, and a proposed acquisition during next few months in the downstream part of its oil activities.
The Wall Street Journal, which seems to believe that the introduction will not take place at the moment, says that Saudi Aramco could still sell a stake … China. Thus, mentioning the position of Saudi Arabia’s key supplier of oil in China, the WSJ believes that the logic of a direct investment of Chinese oil giants PetroChina or Sinopec remains relentless.
