Saudi Aramco. the world's biggest oil producer will be active in debt markets after its debut $12 billion bond earlier this month, which was only the beginning
.Saudi Energy Minister Khalid al-Falih said on Wednesday.
Al-Faleh added that during the first session of the Financial Sector Conference in Riyadh, Aramco will enter The equity markets earlier than expected, After the company attracted interest of investors through the sale of bonds. According to Reuters.
Saudi officials said, the expected listing date, is 2021, but al-Faleh informed the conference today, It may be delayed or slightly advanced.
Aramco received more than $100 billion in orders by April 9 for its debut bond - although the company said in the Bond prospectus, The kingdom will not guarantee its bonds - but it has decided to sell its value Only 12 billion dollars.
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The bond came on the heels of Aramco's planned $69.1 billion acquisition of a 70 percent stake in petrochemicals firm Saudi Basic Industries Corp (SABIC) from the Saudi sovereign wealth fund.
JPMorgan, Morgan Stanley, HSBC, Citi, Goldman Sachs and National Commercial Bank, Administration the bonds' bookrunners.
JP Morgan, Morgan Stanley and other banks, worked on the planned stock market listing of Aramco before the move was postponed last year.
Saudi Finance Minister Mohammed al-Jadaan said the kingdom had a budget surplus of 27.8 billion riyals ($ 7.41 billion) in the first quarter of this year, confirming it was the first budget surplus since 2014.
The Conference continues, Which carries the slogan (financial prospects promising) two days and is held at the King Abdulaziz International Conference Center in Riyadh.
According to a Reuters poll, Including 23 economic experts Expect the Saudi Arabia's GDP growth, the largest Arab economy And,The largest oil exporter, In the world by 1.8% in 2019 and 2.2% in 2020.
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