Saudi Aramco to access equity markets "sooner than you think": Al-Falih

A $12bn bond was recently issued to raise money for Aramco's $69.1bn acquisition of a 70% stake of SABIC

Khalid Al Falih, Saudi Arabia's Minister of Energy, Industry and Mineral Resources.
Khalid Al Falih, Saudi Arabia's Minister of Energy, Industry and Mineral Resources.

Saudi Energy Minister Khalid Al-Falih told a conference in Riyadh that Saudi Aramco's inaugural, $12bn bond sale, was "only the beginning," Bloomberg reported.

"There will be more," he added. "I won't tell you what and when, and it won't be bonds only."

The company IPO was shelved due to the SABIC acquisition, and is set for a 2021 date. Al-Falih said that date "could slip a little bit, could come forward."

"Aramco sooner than you think will be accessing equity markets," he added.

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Oil & Gas Middle East - July 2019

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