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.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5:30 p.m. ET: 18,160,139 — Total deaths: 690,724 — Total recoveries — 10,755,137Map.
  2. U.S.: Total confirmed cases as of 5:30 p.m. ET: 4,698,244 — Total deaths: 155,191 — Total recoveries: 1,468,689 — Total tests: 56,812,162Map.
  3. Politics: White House will require staff to undergo randomized coronavirus testing — Pelosi says Birx "enabled" Trump on misinformation.
  4. Business: Virtual school is another setback for retail — The pandemic hasn't hampered health care.
  5. Sports: 13 members of St. Louis Cardinals test positive, prompting MLB to cancel Tigers series — Former FDA chief says MLB outbreaks should be warning sign for schools.
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Why it matters: Seven consecutive Cardinals games have now been canceled after St. Louis became the second team to report a significant coronavirus outbreak, just two weeks into the season.

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Axios Re:Cap digs into the situation with Peter Navarro, the White House's top trade adviser and a noted China hawk, who suggests Microsoft should be forced to make unrelated concessions related to its China operations.