Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
»
1-min read

'It Will be Huge': Saudi Crown Prince Assures Oil Giant Aramco IPO by 2021

The plan to float around five percent of Aramco — expected to be the world's largest stock sale — forms the cornerstone of a reform programme envisaged by Prince Mohammed to wean the Saudi economy off its reliance on oil.

AFP

Updated:October 6, 2018, 10:38 AM IST
facebookTwittergoogleskypewhatsapp
'It Will be Huge': Saudi Crown Prince Assures Oil Giant Aramco IPO by 2021
Saudi Crown Prince Mohammed bin Salman said that oil giant Aramco's initial public offering will go ahead by early 2021.
Loading...
Riyadh: Saudi Crown Prince Mohammed bin Salman said that oil giant Aramco's initial public offering will go ahead by early 2021 after reports emerged the plan had been scrapped, Bloomberg reported.

"I believe late 2020, early 2021," Prince Mohammed told Bloomberg in an interview published late Friday when asked when he believed the IPO could be launched.

"The investor will decide the price on the day. I believe it will be above $2 trillion. Because it will be huge."

The crown prince denied that the kingdom had halted the plan after a media report said that financial advisors working on it had been disbanded.

"Everyone heard about the rumours of Saudi Arabia cancelling the IPO of Aramco, delaying that, and that this is delaying Vision 2030," he said.

"This is not right."

The plan to float around five percent of Aramco -- expected to be the world's largest stock sale -- forms the cornerstone of a reform programme envisaged by Prince Mohammed to wean the Saudi economy off its reliance on oil.

But Aramco executives have repeatedly cited unfavourable market conditions to push back the IPO, earlier scheduled for this year, with many observers sceptical whether the listing will happen at all.

The crown prince told Bloomberg that the IPO was "100 percent" in the kingdom's interest.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
SBI 344.70 7.97
Reliance 1,325.90 4.62
Indiabulls Hsg 814.55 12.63
ICICI Bank 407.70 4.62
HDFC 2,122.50 6.46
Company Price Change %Gain
Reliance 1,325.50 4.72
Axis Bank 782.75 4.62
Indiabulls Hsg 811.05 12.47
SBI 344.60 8.04
Yes Bank 143.60 6.73
Top Gainers
Company Price Change %Gain
Indiabulls Hsg 814.55 12.63
Adani Ports 400.10 8.99
IndusInd Bank 1,494.65 8.82
SBI 344.70 7.97
Tata Motors 190.15 7.52
Company Price Change %Gain
IndusInd Bank 1,492.60 8.64
SBI 344.60 8.04
Tata Motors 190.00 7.53
Yes Bank 143.60 6.73
Larsen 1,451.05 6.55
Top Losers
Company Price Change %Gain
Dr Reddys Labs 2,589.40 -5.67
Zee Entertain 362.50 -2.59
Bajaj Auto 3,006.30 -1.11
Tech Mahindra 779.35 -0.70
Infosys 722.40 -0.21
Company Price Change %Gain
Bajaj Auto 3,005.85 -1.18
Infosys 722.40 -0.19

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results