Saudi Aramco aims to begin planned IPO on Nov. 3: sources

Saudi Aramco aims to announce the start of its initial public offering (IPO) on ...

FILE PHOTO: The Saudi Aramco logo pictured at the company's oil facility in Abqaiq, Saudi Arabia, October 12, 2019. REUTERS/Maxim Shemetov

Separately, Aramco has not approached the Kuwait Investment Authority to invest in the IPO, the sovereign wealth fund’s managing director Farouk Bastaki said on Tuesday. The people also said Aramco’s chief executive officer, Amin Nasser, was not present at the conference on Tuesday as he was meeting investors abroad ahead of the offering.

Aramco will start subscription for investors in its initial public offering on Dec. 4, Saudi-owned news channel Al-Arabiya said in a news flash on Tuesday citing sources.

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