(Bloomberg) -- Saudi Aramco plans to sell more shares to the public in the coming years, Saudi Crown Prince Mohammed bin Salman said at a conference Thursday, without giving details.
“There are going to be IPOs by Aramco in the following years,” Prince Mohammed said in Arabic at the Future Investment Initiative in Riyadh.
The kingdom’s de facto ruler didn’t specify if the world’s biggest oil company would list more shares locally, sell them on a foreign exchange, or both.
Aramco listed shares for the first time on Riyadh’s Tadawul exchange in late 2019 in the world’s largest initial public offering. The Saudi government still owns around 98% of the company, which has a market value of $1.9 trillion, second only to Apple Inc.
The prince spoke on the second day of the FII, his signature investment event that’s featured top global executives like Blackstone Group Inc.’s Steven Schwarzman and SoftBankCorp.’s Masayoshi Son this year. Most spoke via video link, though some such as Total SE Chief Executive Officer Patrick Pouyanne attended in person.
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