Photo: Reuters
Photo: Reuters

Saudi Aramco CEO says IPO will ‘certainly’ happen

Saudi Aramco said it is still in discussions to buy a stake in petrochemicals company Saudi Basic Industries Corp.

Abu Dhabi: Saudi Aramco Chief Executive Officer Amin Nasser said the initial public offering of the state-oil producer will “certainly" happen when the conditions are right.

Saudi Aramco said it is still in discussions to buy a stake in petrochemicals company Saudi Basic Industries Corp. (Sabic) from the kingdom’s sovereign wealth fund, the Public Investment Fund, he said at a conference in Abu Dhabi.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)

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