SAUDI ARAMCO IPO $2 TLN
BLOOMBERG - Saudi Arabia's crown prince insisted the stalled plan to sell shares in oil giant Aramco will go ahead, promising an initial public offering by 2021 and sticking to his ambitious view the state-run company is worth $2 trillion or more.
The comments show 33-year-old Mohammed bin Salman's determination to press ahead with the IPO even after Riyadh's original timetable was undone by skepticism over the company's valuation and a plan for Aramco to buy a controlling stake in the country's biggest chemical producer.
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