The Saudi government is selling a stake of up 0.5% in Aramco to individual retail investors on 17 November, firing the starting gun on what is likely to be the world’s largest initial public offering (IPO).
Aramco will be restricted from issuing additional shares for a year after the IPO, its prospectus said on Saturday.
The sale is a cornerstone of Crown Prince Mohammed bin Salman’s policy to diversify the Saudi economy from oil by investing the proceeds of billions of dollars in non-energy industries.
