Ever since Saudi Arabia’s Deputy Crown Prince Muhammad bin Salman captured the world’s attention in April 2016 by announcing plans to float up to a 5% stake in prized state oil giant Saudi Aramco, industry participants and observers have hung on every new detail to have emerged.
As the world’s largest oil exporter, the part-sale of Aramco has the potential to be the biggest IPO in history. It forms the centerpiece of Riyadh’s ambitious ‘Vision 2030’ plans to end the country’s “addiction to oil” (MEES, 29 April 2016). (CONTINUED - 2887 WORDS)
