Saudi Aramco is preparing to give investors unprecedented access to its financial information, lifting the lid on the world’s biggest oil producer ahead of a planned initial public offering in 2018.
Saudi Arabia’s state-controlled oil company is busy overhauling its accounts so as to publish figures for its 2017 financial year in an industry-friendly format, said four people close to the company, according to The Financial Times.
Saudi Arabia decided to launch a Saudi Aramco IPO as a result of the collapse in oil prices which has squeezed the kingdom's finances.
-RW
No comments:
Post a Comment