State oil giant Saudi Aramco plans to sell 49 per cent of its shares over the next 10 years, Saudi newspaper al-Eqtisadiah reported on Saturday, quoting an unnamed senior source.
Aramco did not immediately respond to a request for comment.
The company is targeting 2018 for what is expected to be the world’s biggest initial public offering, with a listing at home and overseas among the options.
Read more: Saudi Aramco eyes 2018 for mega IPO – CEO
Aramco’s chief executive Amin Nasser said in October that a flotation of up to 5 per cent was being considered, though the exact size of the offering will be determined by the Saudi Supreme Council.