Aramco (ARMCO) is set to put out its initial public offering prospectus by the end of the month, The Wall Street Journal reports, re-setting the stage for a massive offering that could yet come by year-end.
The listing, already delayed from last year, was set to be delayed again after an attack on company installations, though Aramco has since said output has stabilized.
The prospectus will come out in Arabic on Oct. 25 and English two days later, according to the report -- a precursor to book-building in November, with a final decision on go-ahead to come shortly thereafter.
Crown Prince Mohammed bin Salman wants to list 5% of the state-owned company through a domestic and later international listing to raise billions of dollars; he wants the company valued at $2T, while analysts and company execs value it closer to $1.5T.
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