Saudi-owned TV channel says initial public offering of state oil giant Saudi Aramco planned for December 4.
FILE - In this Oct. 22, 2018, file photo, Saudi employees print badges of participants of the Future Investment Initiative in Riyadh, Saudi Arabia. Lured by a long-looming stock offering of Saudi Arabia's massive state-run oil company, investors and business leaders have returned to the kingdom's capital for an investment forum overshadowed last year by the assassination of Washington Post columnist Jamal Khashoggi.
The report by Dubai-based Al-Arabiya offered a crackle of life as the Future Investment Initiative began in the kingdom’s capital of Riyadh, an event created by Saudi Crown Prince Mohammed bin Salman. Stagnant global energy prices and a Sept. 14 attack on the heart of Aramco already spooked some. One ratings company downgraded the oil giant. Meanwhile, questions persist over how the initial public offering will be handled even as Saudi Aramco offers sweeteners and promises of an estimated $75 billion dividend next year.
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