Saudi Aramco will list on Saudi Stock Exchange, Tadawul, on December 11, the country's national TV channel reported Tuesday citing anonymous sources.
The pricing for the initial public offering (IPO) of the company will start on November 17 while the final prices for the float is expected to be announced on December 4, Al - Arabiya's sources confirmed.
The long waited IPO is part of the Crown Prince's Vision 2030 initiative to steer his country away from oil dependency. He aims to raise $100 billion from a 5% sale of Aramco, which would make it the world's most valuable firm by market capitalization.
Saudi Arabia aims at reducing economic reliance on oil incomes as part of Saudi Arabia Vision 2030 plan.
The drone attacks on the kingdom's crown jewel Saudi Aramco on Sept. 14 raised uncertainity about the IPO calendar since there are security concerns regarding the kingdom would protect the world's most valuable company.
The attacks crippled 5.7 million barrels per day (mbpd) of production, which was around 60% of output in Saudi oil industry.
However, the kingdom's Energy Minister Prince Abdulaziz bin Salman announced on October 3 that the oil production was fully restored after the attacks.
He said that the kingdom wants to now focus on the listing of its state energy giant, Saudi Aramco. Riyadh has been preparing for its initial public offering (IPO) in the Saudi stock market Tadawul before the end of 2019, and later in Tokyo for 2020 or 2021.
By Nuran Erkul Kaya