Saudi Aramco board meeting in Shanghai in May hope to attract Chinese investors
Industry sources disclosed that the Saudi Arabian National Oil Company (Saudi Aramco) board meeting in May will be held in China for the first time in seven years. Saudi Aramco hopes to attract Chinese and Asian investors to participate in its stock issue transactions.
The board said that the board of directors of the company will meet in Shanghai on May 10 to discuss business plans, investment and the preparation of up to 5% of the shares in 2018.
The board of directors of the company holds two meetings a year, often at overseas, but only once in 2010 to hold a meeting in China.
Saudi Aramco has hired an international investment bank with Chinese investor channels as its initial public offering (IPO) adviser.
According to sources, last month when Saudi King Salman visited Beijing, both sides discussed the issue of Saudi Aramco's IPO and the possible role of Chinese investors.
The IPO may raise up to 100 billion US dollars of funds, so that Saudi Aramco valuation reached a record high of $ 2 trillion.
The second source said that the negotiations in the initial stage, China's investment in Saudi Aramco, may need the coordination of the Chinese government.
The board said that the board of directors of the company will meet in Shanghai on May 10 to discuss business plans, investment and the preparation of up to 5% of the shares in 2018.
The board of directors of the company holds two meetings a year, often at overseas, but only once in 2010 to hold a meeting in China.
Saudi Aramco has hired an international investment bank with Chinese investor channels as its initial public offering (IPO) adviser.
According to sources, last month when Saudi King Salman visited Beijing, both sides discussed the issue of Saudi Aramco's IPO and the possible role of Chinese investors.
The IPO may raise up to 100 billion US dollars of funds, so that Saudi Aramco valuation reached a record high of $ 2 trillion.
The second source said that the negotiations in the initial stage, China's investment in Saudi Aramco, may need the coordination of the Chinese government.