Saudi Aramco to become holding company
Saudi Arabia Saudi Aramco
The announcement comes as part of the gradual unveiling of Saudi Arabia’s Vision 2030, which was approved by the country’s cabinet earlier on Monday. While less than 5% of Saudi Aramco will be publicly offered, it is still expected to be one of the largest initial public offerings in history on account of the company being the largest energy firm in the world.
Saudi Aramco is conservatively valued at USD 2.5 trillion. As such, a listed entity would have a potential value of USD 125 billion, according to estimates.
For more news and features on the oil and gas industry in Saudi Arabia, click here.
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