Saudi Aramco CEO says listing on track for 2018

[DUBAI] Saudi Aramco's initial public offering will take place in 2018 as planned and the listing venue will be revealed in due course, the company's chief executive said in a CNBC interview broadcast on Monday.

"We have always said that we will be listing in 2018, and to be more specific, in the second half of 2018," CEO Amin Nasser said, later adding: "The IPO is on track. The listing venue will be discussed and shared in due course." Aramco is preparing to list about 5 per cent of its shares in local and international stock markets next year and has yet to choose an overseas market. Mr Nasser rejected a report that China was emerging as a frontrunner in a possible plan to delay the IPO and sell shares to sovereign wealth funds, CNBC said.

REUTERS