Saudi Aramco CEO says IPO will ‘certainly’ happen

Aramco said it is still in discussions to buy a stake in petrochemicals company SABIC



Saudi Aramco chief executive officer Amin Nasser said the initial public offering of the state-oil producer will “certainly” happen when the conditions are right.

Saudi Aramco said it is still in discussions to buy a stake in petrochemicals company Saudi Basic Industries Corp. (SABIC) from the kingdom’s sovereigh wealth fund, the Public Investment Fund, he said at a conference in Abu Dhabi.

Also read: Saudi Aramco may borrow up to $50bn from banks for SABIC deal

Saudi Aramco CEO defends SABIC deal, says listing could come after