Saudi Capital Market Authority approves Aramco's listing request
Economy News - Baghdad
The Saudi Capital Market Authority has approved Aramco's application for listing on the local stock exchange.
The initial public offering of the world's largest for-profit company is aimed at pushing Crown Prince Mohammed bin Salman's economic reforms to diversify the kingdom's economy.
"The Capital Market Authority (" CMA ") announces the issuance of the CMA Board's decision approving the application of the Saudi Arabian Oil Company (" Saudi Aramco ") to register and put part of its shares for public subscription," the CMA said in a statement.
Aramco's bulletin will be announced on November 10, Al Arabiya television quoted sources as saying.