RIYADH May 2 The planned sale of a stake in
national oil giant Saudi Aramco will occur through an initial
public offer of shares in 2018, and the stake sold "will be not
be very far off 5 percent", Deputy Crown Prince Mohammed bin
Salman said on Tuesday.
Prince Mohammed was speaking in a nationally televised
interview, a year after he launched a series of radical economic
reforms including the partial privatisation of Aramco.
"We have two main factors to decide the percentage to be
listed...First the demand, whether there will be demand or not.
Second, what do we have in terms of investments in the pipeline
inside Saudi or outside," Prince Mohammed said, referring to
opportunities to invest proceeds of the IPO.
The proceeds will be invested by the kingdom's Public
Investment Fund, its top sovereign wealth fund, which will spend
more than 500 billion riyals ($133.3 billion) over three years
after Aramco's IPO, Prince Mohammed said.
(Reporting by Gulf team; Writing by Rania El Gamal; Editing by