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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.

(FAYEZ NURELDINE/AFP/Getty Images)

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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