[size=36]Saudi Capital Market Authority approves Aramco's request to put its shares on the market[/size]
The prospectus contains information and data that the investor needs to know before making the investment decision, including the company's financial statements and full information about its activity and management.
The Authority's approval of the application shall be considered valid for a period of 6 months from the date of the Authority's decision.
Saudi Aramco will hold a press conference on Sunday as well as world markets await the announcement of a major event at the conference that could be important details about the company's initial public offering (IPO) if the forecasts are true, informed sources told Al Arabiya.net.
The news agency "Reuters" news agency on Saturday, citing five unnamed sources, that the announcement of the IPO plan for the state-owned oil giant Saudi Aramco may be on Sunday. The world's largest oil company will announce its plan to launch on November 3, the sources said.
Prince Abdul Aziz bin Salman bin Abdul Aziz, Saudi Minister of Energy, said that the initial public offering of Aramco will soon, and that the decision is in the hands of Crown Prince Mohammed bin Salman.
Speaking at a conference on the Future of Investment Initiative in Riyadh last week, the Saudi energy minister said the IPO "will happen soon, but it will happen at the right time with the right approach and certainly with the right decision." "First and foremost, it will be a Saudi decision, specifically the decision of Prince Mohammed bin Salman."