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Report on huge Aramco stake sale was wrong: Saudi Arabia newspaper

Aramco aims to sell some of its shares in 2018 which could be world's biggest IPO

An oil tank is seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. REUTERS/ Ali Jarekji/Files

An oil tank is seen at the Saudi Aramco headquarters during a media tour at Damam city November 11, 2007. REUTERS/ Ali Jarekji/Files

Reuters
Major Saudi Arabian newspaper al-Eqtisadiah retracted a report on Sunday that said state oil giant Saudi Aramco IPO-ARMO.SE planned to sell 49 per cent of its shares over the next 10 years.

The report published on Saturday was "completely wrong and far from reality" and not based on a verified source, the newspaper said, apologising for the mistake.

The company aims to sell some of its shares in 2018 in what could be the world's biggest initial public offering.

Aramco's chief executive Amin Nasser said in October a flotation of up to 5 per cent was being considered, although the exact size would be determined by the Saudi Supreme Council.
 

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First Published: Dec 26 2016 | 8:27 AM IST

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