DHAHRAN: Saudi Arabia on Sunday announced the stock market debut of energy giant Aramco, in what could be the world’s biggest initial public offering (IPO), underpinning Crown Prince Mohammed bin Salman’s ambitions to overhaul the kingdom’s oil-reliant economy.
After years of delay, Aramco said it plans to sell an unspecified number of shares on the Riyadh stock exchange, calling it a “historic” milestone for the world’s most profitable company which pumps 10 percent of the world’s oil.
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