Aramco IPO prospectus expected in late October

Saudi crown prince plans to list 5% of state-owned oil giant! Come hell or high water… Including drone swarms and dead chopped up in little pieces newspaper reporters
Reuters An Aramco oil tank is seen at the production facility at Saudi Aramco’s Shaybah oilfield.

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. The crown prince plans to list 5% of Aramco, through a domestic and a later planned international listing, to raise billions of dollars to diversify Saudi Arabia’s economy from its dependence on oil. Until recently, progress has been fitful. The prospectus, which will be published in Arabic on Oct. 25 and in English two days later, according to a document outlining the timeline seen by The Wall Street Journal, will be used to market the shares of the state-owned company. This will precede a book-building process in November during which Aramco will test interest in the company’s shares, the people said. A decision on whether to go ahead would likely be made after the book building. The response of investors during the roadshow will inform the final offer price of the shares and whether the current sole shareholder — the Kingdom of Saudi Arabia — decides to move forward with listing 1% to 2% of the company domestically, they said. Nick Note i am told by wall street scum bags (I disinfected afterwards) that people are working day and night to get this done. I am also told Crown Prince Salamander changed leadership in Aramco when he cold not get the valuation he demanded. I am also told the Saudi billionaires have been given a quota of shares that are expected to buy. Otherwise its back to the 5 start torture center electrodes and all.