Major Saudi officials in Moscow stated that the
kingdom expects to sign a set of joint investment deals with Russia. It is
noteworthy that there is a plan to float 5% of Aramco's stocks during the
initial public offering (IPO), as a part of Saudi's 2030 vision, which is a
corrective wide ranged vision to diversify the Saudi economy with different
areas other than oil business. Moreover, this plan is supported by prince of
the crown Mohamed Bin Salman.
Aramco executive manager, Amin Nasser in, at the
energy forum in Moscow, stated that they are working on including Aramco in the
economic chart of 2018, He adds "we will consider investors assement as we
are making a notable progress related to naming the place and time of the
public offering".
Saudi minister of energy Khaled Al-Faleh, head of
Aramco, pointed out that on Thursday there will be a decision about the IPO in
the second half of 2018 referring to that this public offering will be used as
a motive for Saudi economic openness. Prince Mohamed said that this public
offering will be the biggest in the world where Aramco will be estimated by
minimum of 2 million dollars and it can reach 100 billion and her referred to
that this money will be used to develop other industries in the kingdom. Nasser
added that the kingdom will decide the place and time of the public offering
and that they have not negotiated with the Russian company which will
participate in the IPO. It is noteworthy that Nasser and Faleh are parts of the
king's official visit to Moscow.