Saudi Arabia's oil giant Saudi Aramco is looking to list £85bn worth of shares on a number of stock exchanges, including London, in what would be the biggest share listing of all time.
The firm, which is the biggest oil company in the world, is planning to sell a 5% stake in its £1.7trn business to investors via London, New York and Hong Kong, This is Money reported. The move comes amid speculation Saudia Arabia is looking to overhaul its energy strategy following the collapse in the oil price. Aramco controls about 10% of global oil output. Its listing, which is scheduled for 2017 or 2018, will see proceeds invested in projects to diversify Saudi away from oil - such as car plants, weapons production and tourism, This is Money wrote. Saudia Arabia's veteran oil ...
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