The head of the Saudi Capital Market Authority Mohammed bin Abdullah Elkuwaiz said CMA is still discussing whether there will be any waivers or exemptions for Aramco listing.Saudi Arabia’s Capital Market Authority is in talks with Saudi Aramco and its advisers about the regulatory requirements for listing on the domestic stock exchange, its chairman Mohammed bin Abdullah Elkuwaiz told Reuters.
Asked whether there will be any waivers or exemptions for the company’s listing, Kuwaiz told Reuters in an interview that the CMA is “still having those discussions”.Reuters reported this month that state-owned oil firm Aramco plans to sell a 1 per cent stake this year, in a potential $20 billion deal, and another 1 per cent in 2020 ahead of an international sale.
Aramco, whose chairman Yassir al-Rumayyan said this week that the IPO would be ready within the next year and preparations were continuing despite Saturday’s attacks on its facilities, is yet to file its prospectus with the Saudi regulator.