Feb 27, 2020 - Energy & Environment

Saudi Aramco plans for potential international listing

The Saudi Aramco stock chart.

Photo: FAYEZ NURELDINE/AFP via Getty Images

It's back! Or ... Maybe it's back. Or could eventually be back. Possibly.

The latest: Bloomberg reports that Saudi Aramco is "starting early preparations" for a potential listing in an international stock exchange at some point, which comes after its long-awaited debut on the Saudi exchange late last year.

  • "The world’s largest publicly traded company is in discussions with Wall Street banks to draw up scenarios for a second listing overseas, according to the people, who asked not to be identified because the information is private," they report.
  • But their piece and a Reuters report note that it's unlikely to occur this year.

The intrigue: Plans for an international listing have been a moving target for years, especially after the kingdom split the listing plan and focused on the domestic IPO, which finally happened in December and raised $29 billion.

Why it matters: It would bring a fresh infusion of capital into the kingdom, which is using the transformation of Aramco into a traded company to raise money to help with the country's economic diversification.

  • Banks working on the deal wouldn't do too badly either.
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