Aramco’s prospectus to be issued on November 9: CEO

03/11/2019 Argaam

 

Saudi Arabian Oil Co.’s (Saudi Aramco) prospectus will be disclosed on Nov. 9, 2019, said President and CEO Amin Al Nasser. 

 

The company is able to distribute $75 billion dividend to shareholders as its financial position is very strong with announced net profit of $111 billion and free financial flows of $86 billion, he added at the company's press conference today. 

 

The company's vision for certain oil prices and a reasonable level of production according to global markets was taken into account when setting $75 billion as minimum ceiling for profit distributions in 2020, he added.


The CEO also explained that Aramco's ability to pay these profits and its future growth were determined on that basis. 

 

He also noted that the payments made by the company for its stake in Saudi Basic Industries Corp. (SABIC) were also taken into consideration.

 

Saudi Aramco announced today its intention to offer part of its shares to the public and list them in the main market of the Saudi Stock Exchange (Tadawul).

 

For more details about Saudi Aramco IPO

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