Saudi Aramco takes key step towards $2tn flotation

Royal decree turning state-owned oil giant into joint stock company dispels doubts about IPOSaudi Arabia has taken a key step towards allowing future investors to buy shares in its national oil company, as it prepares for the world’s biggest stock market flotation later this year.Saudi Aramco was recently forced to deny it was planning to shelve plans for its $2tn flotation of 5% of the company, and the new change suggests the planned IPO is still on track. Continue reading...