Interested parties can register from 17 November for the purchase of shares of the Saudi state oil company Saudi Aramco. That registration runs up to and including Wednesday 4 December. The final price of the Saudi Aramco share will be announced one day later.
In the 658-page prospectus you can read that institutional investors worldwide and residents of Saudi Arabia and the other Gulf states can subscribe. What percentage of the shares in the company will be offered on the Riyadh stock exchange is still unknown. It is known that 0.5 percent of the total number of shares will be sold to individual investors.
Saudi Aramco is the largest oil producer in the world. The IPO is part of the Saudi Crown Prince Mohammed Bin Salman’s plan to redesign the country’s economy. The country wants to become less dependent on the oil industry from 2030 onwards. The income from the IPO is invested in other economic sectors.