Saudi Aramco CEO can't say whether IPO will happen by 2020 [CNBC]
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Source: CNBC
The CEO of Saudi state-owned oil giant Aramco on Sunday said he cannot say whether his company will list shares on the public stock market by 2020. Last fall, Aramco CEO Amin Nasser told CNBC the IPO — expected to be the world's largest ever — was on track for 2018 . However, Nasser and Saudi officials have since sought to temper the market's expectations. On Sunday, Nasser told CNBC that Aramco's plans to buy a strategic position in petrochemicals firm Saudi Basic Industries, or SABIC, will delay the IPO indefinitely. Asked whether it would be accurate to report that Aramco still plans to list shares by 2020, Nasser said he did not want to commit. I don't want to talk about dates at this stage, Nasser told CNBC's Brian Sullivan. From our side, I just want to say — reiterate — that the government has announced that they are committed to the IPO. Mary Catherine Wellons | CNBC Amin Nasser, CEO of Aramco speaking at the 2018 IHS CERAWeek
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