October 29, 2019 / 7:14 AM / 25 days ago

Saudi Aramco to start IPO subscription on Dec 4 - Arabiya

FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo

DUBAI (Reuters) - Saudi Aramco will start subscription for investors in its initial public offering on Dec. 4, Saudi-owned news channel Al-Arabiya said in a news flash on Tuesday citing sources.

The oil giant plans to announce the transaction’s price on Nov. 17, it added. The company will begin trading on the local stock market, the Tadawul, on Dec. 11, the broadcaster reported.

Reporting by Asma Alsharif, Writing by Sylvia Westall

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