Saudi Aramco ready for IPO in H2 2018, says CEO

Saudi Aramco will be ready for an initial public offering in the second half of 2018, and work on the listing is “still ongoing,” chief executive Amin Nasser told Bloomberg on Monday.

“We are doing a lot of work to prepare the company for listing,” he said, adding the venue and the timing will depend on the government.

"This is a very complex process. Aramco’s size and complexities is something that requires time," the CEO said.

Last week, Saudi energy minister Khalid Al-Falih told Reuters that the company could be floated either domestically or internationally late this year.

Saudi Arabia plans to list up to 5 percent of the world’s largest oil producer on its domestic stock exchange (Tadawul), in addition to one or more international venues in a listing that could raise $100 billion.

Several international bourses are vying for the mega IPO, including New York, London, Hong Kong, Tokyo, and Toronto.