Saudi Aramco said to list locally and abroad in H2 2018

Saudi Aramco will be listed in the kingdom and abroad in the second half of 2018, Amin Nasser, chief executive officer of Aramco, was quoted as saying by Reuters.

The initial public offering (IPO) of the state-run oil giant comes as part of the kingdom’s Vision 2030 to diversify its economy and ease its dependence on oil revenue.

Saudi Arabia previously revealed a plan to list up to 5 percent of Aramco on both the Saudi Stock Exchange and one or more international stock markets.

"We are evaluating different stock exchanges globally and we will present this to our board and shareholder on where Aramco will be listed," Nasser was quoted.