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DUBAI (Reuters) – Saudi Aramco is ready for an initial public offering, but the decision belongs to the sole shareholder of the company, the Saudi government, a senior executive said.
"We will announce (the IPO) on the basis of what the government believes to be the optimal market conditions," said Khalid al-Dabbagh, senior vice president of finance, strategy and development. , during a conference call on profits.
Saudi officials said the government plans to register Aramco in 2020-21 as part of an agreement that is considered the cornerstone of the kingdom's economic transformation by attracting foreign investment and diversifying away from the country. oil.
(Reuters)
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