5 Jan 2018 Jahr - Saudi Aramco IPO a step closer as decree creates new corporate structure

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DUBAI: Saudi Arabia has taken a crucial step in its plans to privatize some of Saudi Aramco by changing the legal status of the national oil giant into a joint stock company.
By incorporating Aramco, the government will be able to offer equity in it either on domestic or foreign stock exchanges, or to any outside investor.
The government has said it plans to sell 5 per cent of Aramco as part of the plan to reduce oil dependency and the role of the public sector under the Vision 2030 strategy.

http://www.arabnews.com/node/1219461/business-economy

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