KEY POINTS
  • The kingdom's market regulator approved the listing early Sunday but exact details surrounding the size and scope of the IPO remain unknown.
  • Saudi Aramco is the world's largest integrated oil and gas company.
  • Saudi Aramco's IPO, which could be the biggest on record, has been closely-anticipated in the last few years but has been delayed.

DHAHRAN, Saudi Arabia — The Kingdom of Saudi Arabia officially launched its initial public offering (IPO) for its state-owned oil company Saudi Aramco on Sunday, announcing that a domestic listing will happen in December.

The kingdom's market regulator approved the listing early Sunday but exact details surrounding the size and scope of the IPO remain unknown. In a statement from Saudi Aramco, the company said "the final offer price, number of shares to be sold and percentage of the shares to be sold will be determined at the end of the book-building period."