Aramco ready for IPO in H2, venue to be decided: CEO

Saudi Arabian Oil Co’s (Saudi Aramco) initial public offering (IPO) is still planned for the second half of 2018, and the government has yet to decide on listing venue, chief executive Amin Nasser told Reuters.

"The company is ready for listing in 2018, when the decision is taken on the listing venue," Nasser told reporters at the company's headquarters.

A committee is discussing if there will be a listing in another market, in addition to Saudi Stock Exchange (Tadawul), Nasser noted.

The plan remains to list the whole company rather than a subsidiary, he added.

Saudi Arabia plans to sell a 5 percent stake in the world’s top oil exporter, as the Kingdom looks to diversify its economy through privatization and fiscal reforms.

The listing is expected to be the world’s largest, valued at $100 billion.

Several international bourses are vying for the IPO, including New York, London, Hong Kong, Tokyo, and Toronto.