‘Unique’ Aramco IPO changes the dynamics of Saudi Arabia’s economy, stock market CEO says

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The world's largest IPO will radically transform the way in which Saudi Arabia's economy operates, according to the chief executive of the Saudi Stock Exchange.

) will radically transform the way in which Saudi Arabia's economy operates, according to the chief executive of the Saudi Stock Exchange.'s Tadawul is the only confirmed listing exchange for state-owned energy giant, Saudi Aramco. The kingdom has estimated the much-anticipated listing of the world's top oil company could be worth up to $2 trillion.

Saudi Aramco is looking to become the world's most valuable company when it lists a 5 percent stake in an IPO either later this year or in early 2019. In March, the Tadawul's progress received a timely boost to its preparations as the country's stock market received approval to join the benchmark FTSE Emerging Markets index. That was widely seen as a positive step, as the approval is expected to push billions of fresh international capital onto Riyadh's relatively small exchange.

 

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