Saudi Aramco’s IPO on track to take place in second half of 2018 – CEO

The company is evaluating different stock exchanges

Saudi Aramco’s listing process is going as planned, and is expected to take place in the second half of 2018, chief executive Amin Nasser said on Monday.

“We have always said the listing will happen in the second half of 2018, everything is going very smoothly, we are evaluating different stock exchanges,” Nasser, speaking at an industry conference in Bahrain, said.

“There is a lot of work which is ongoing but everything is going as planned,” he added.

Nasser also said an overhang in world oil supplies was expected to ease in the first half of 2017 and that the industry needed to maintain investments for the long term despite lower prices.