It’s going to be very soon. We are prepared, that is the bottom line.” Saudi Aramco CEO Amin Nasser struck a confident pose on the firm’s planned IPO during this week’s World Energy Congress (WEC) in Abu Dhabi. Responding to questions on the stalled flotation, Mr Nasser was adamant that Aramco could execute it whenever the government gave the greenlight. “What we have always said is Aramco is ready for whenever the shareholder makes a decision to list.”
Major milestones have been notched up this year which have certainly improved Aramco readiness for an IPO. First up came the release of the bond prospectus in April which lifted the lid on much of the company’s operations (MEES, 5 April). This was followed up by last month’s debut earnings call (MEES, 16 August) and this week Reuters and the Financial Times reported that nine investment banks have been brought in to handle the IPO. (CONTINUED - 958 WORDS)
