RIYADH: Saudi Arabia plans to sell less than 5 percent of its state oil giant Saudi Aramco via an initial public offering (IPO), Deputy Crown Prince Mohammed bin Salman said in a television interview on Monday.
He also said he expected Aramco to be valued at more than $2 trillion, and that he wanted it to be transformed into a holding company with an elected board, and then added that subsidiaries
of the company would also be sold by IPO.
"The 5 percent is from the parent company," he said on television.
Reuters
