Summary
Saudi regulators Sunday approved state energy giant Aramco's request to make its stock market debut, firing the starting gun on the highly anticipated offering which could be the world's largest.
The announcement paves the way for a domestic stock listing of Aramco, with share trading expected to begin in December, while its plans to launch on an international bourse remain unclear.
Sources close to the initial public offering (IPO) have told AFP that Aramco is expected to sell a total of five percent on two exchanges, with a first listing of two percent on the Tadawul Saudi bourse in December.
Aramco was expected to launch the first part of a two-stage IPO in October.
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