Saudi Aramco, the state-owned company seeking to sell up to a 5% stake in an IPO, will list its shares on the local Saudi exchange on December 11, with a final price for the flotation set to be announced on December 4, Saudi-owned Al Arabiya TV reported on Tuesday. The Capital Market Authority, the country’s financial regulator, will announce the launch of the Aramco IPO on November 3, according to a report on the Al Arabiya TV’s website, citing unnamed sources. The report didn’t mention the size of the stake to be listed on the local exchange, known as Tadawul. Aramco couldn’t be reached immediately for comment. Saudi Crown Prince Mohammed bin Salman has said he wants a local and international listing for Aramco, which he has valued at $2 trillion, but some analysts are skeptical the company could fetch such a price. Saudi officials have yet […]