Saudi Aramco currently studying its portfolio for potential IPOs: CEO

RIYADH: Saudi Aramco is currently studying its portfolio for potential listings of some of its units, according to its CEO, Amin Nasser.

“We’re looking at optimizing our capital program and we’re looking at our portfolio. If there is anything that would require listing in the market, it is currently being considered,” Nasser said in a press conference on Sunday after posting a 90 percent surge in second-quarter profit.

The executive added that announcements will be made in due course in case any partly or fully owned entity will be placed in the market, noting that “there is some expectation” to do so.

Earlier this year, Aramco was reported to weigh an initial public offering of its unit Aramco Trading Co. that could potentially raise over $30 billion, slated to become one of the world’s biggest listings in 2022.