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Saudi Energy Minister: Aramco IPO Will Come Soon, Crown Prince to Decide

Saudi Energy Minister: Aramco IPO Will Come Soon, Crown Prince to Decide

Wednesday, 30 October, 2019 - 12:00
The Saudi Energy Minister at the Future Investment Initiative conference in Riyadh

The initial public offering (IPO) for oil giant Saudi Aramco will come soon, and will be a decision taken by Crown Prince Mohammed bin Salman, the Kingdom's Energy Minister Prince Abdulaziz bin Salman said on Wednesday.


"It is going to come soon ... but it will come at the right time with the right approach and definitely with the right decision," the minister said in a speech at the Future Investment Initiative conference in Riyadh.


"And it will be a Saudi decision first and foremost," he said. "Specifically, Prince Mohammed's decision."


US Treasury Secretary Steve Mnuchin, speaking at the forum, praised the proposed Aramco IPO.


"The Aramco IPO is going to be a great opportunity to grow the capital markets here and watch its success," he said.


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