Saudi Arabia Polishes Its Crown Jewel

MIN READJun 21, 2017 | 16:54 GMT

The Saudi Aramco IPO, which is expected to bring in between $25 billion and $100 billion, is the financial engine that will help power Saudi Arabia's economic reform.


The most critical component of the economic reform program that Crown Prince Mohammed bin Salman is spearheading is the move to put 5 percent of state-owned oil company Saudi Arabian Oil Co., or Saudi Aramco, up for an initial public offering. The sale, expected to bring in between $25 billion and $100 billion, will be the financial engine that helps power the country's economic reform. The money it generates will go into the Saudi Public Investment Fund, , which will be used to pay for the country's strategic investments domestically and abroad, underpinning its economic reform, diversification and transformation initiatives....

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