February 2, 2017 / 12:24 PM / 6 months ago

Saudi Aramco likely to list on multiple exchanges at same time: minister

1 Min Read

Oil tanks seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007.Ali Jarekji/File Photo

RIYADH (Reuters) - Saudi Aramco is likely to list its shares simultaneously on more than one exchange but this is still under evaluation, Energy Minister Khalid al-Falih said on Thursday.

Asked by reporters if Aramco would list first on the Saudi bourse and then on another exchange abroad, Falih said: "It will probably be done concurrently, but we have not announced. We are evaluating. All our options are open."

The planned listing next year of up to 5 percent of Aramco, expected to be the world's biggest initial public offer of shares, is a centerpiece of the Saudi government's plan to diversify the economy beyond oil.

Reporting by Katie Paul; Writing by Rania El Gamal; Editing by Andrew Torchia

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