RIYADH, Nov 17 — From taxi drivers to clerics, Saudis clamouring to own part of state oil giant Aramco went online and to local banks today at the start of a long-delayed share sale for what could be the world’s biggest initial public offering. Ahmed Sanad, 37, who signed up at a Saudi British...
An employee in a branded helmet is pictured at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. — Reuters pic
Roadside billboards and shopping mall adverts hailing “Saudi Aramco, soon on Tadawul”, have for weeks been trailing the listing of the world’s most profitable company through a listing on Riyadh’s Tadawul bourse. Abdullah al-Faqeeh, a 29-year-old dentist, began saving to buy Aramco shares once de facto Saudi ruler Crown Prince Mohammed bin Salman announced the plans nearly four years ago.
Senior Muslim clerics, including royal court adviser Sheikh Abdullah al-Mutlaq, said investing in Aramco is permissible.
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