Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Illustration: Sarah Grillo/Axios
Saudi Aramco is expected to publish its IPO prospectus before the end of this month, the Wall Street Journal reported Tuesday evening, citing anonymous sources familiar with the matter.
Why it matters: It's another sign that kingdom officials are planning to proceed with an offering of shares in the state oil giant after years of delays and uncertainties.
- The document would also provide new information about the company's still opaque plans for a listing, which is designed to raise huge sums to help finance the country's economic diversification.
Where it stands: It's still unclear if the IPO is definitely happening. Per WSJ, publication of the prospectus would pave the way for a "final decision soon after on whether to proceed with the float."
- A listing on the Saudis' domestic stock exchange could occur as soon as this year, to be followed by a listing on an as-yet-undetermined international exchange.
- The 2-stage listing is aimed at selling shares in 5% of the company.