Saudi Aramco now aims to land on the Stock Exchange on December 11th

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Saudi Aramco's long-awaited stock exchange debut will take place on December 11th. This is the new date that the authorities of Riyadh would have set for the IPO of the century: an event announced over three years ago and which has since been subjected to numerous postponements (the last one, very recent, dates back to October 17th).

This time it could be the right time. The indiscretion – because this is still the case – comes from sources of Al Arabiya, a television station based in Dubai, in the United Arab Emirates, but owned by Saudi Arabia and under the direct influence of the Saud royal family. The same rumors were later reported also to Reuters and the Financial Times. In short, reliability is likely. Even if the last word is not said.

Crown prince Mohammed Bin Salman – who planned to finance the Vision 2030 plan with the IPO, aimed at diversifying the Saudi economy – would still be insisting on obtaining a valuation of 2 trillion dollars for the oil company: an objective that clashes with the judgment of Western bankers, who consider a figure of 1,200-1,500 billion dollars more realistic.

The procedure for the placement of a share of Saudi Aramco on the Saudi Tadawul list will begin in days, according to Al Arabiya: the official announcement is expected on Sunday 3 November, probably together with the publication of the quarterly report of the company.

Also on the accounts, rumors are already circulating, based on figures still not certified circulated in banking circles: according to Bloomberg, Aramco would have registeredprofits of a good 68 billion dollars in the first nine monthsthis year (period in which the attack against the Abqaiq and Khurais plants occurred on September 14th).