The listing of Saudi Arabia’s energy giant Aramco is on track to take place in 2021, Energy Minister Khalid al-Falih said , echoing earlier assurances he and Aramco’s chief executive made over the past year. In January, Al-Falih said the company will issue an international bond in the second quarter of this year, mostly to fund the acquisition of a majority stake in petrochemicals major Sabic, valued at US$70 billion, but also to tap “multiple sources of capital.” Given Aramco’s reluctance to make any of its accounts public, as befits a company preparing for a listing, many were skeptical that the bond will take place, since international bond investors are just as interested in a company’s financial health as stock investors. Yet Riyadh has been insistent both the bond and the listing are going as planned. “With or without the SABIC transaction a company the size of Aramco – […]