Equities

Reuters reveals Saudi Aramco restructuring non-oil assets ahead of IPO

Reuters reveals Saudi Aramco restructuring non-oil assets ahead of IPO

Reuters revealed Saudi Aramco has created a subsidiary to house its multibillion-dollar pension fund and could spin off its aviation division as it restructures some assets not related to oil and gas ahead of its planned initial public offering. The move is designed to streamline Aramco’s operations and could make it easier to value since its business risk would be clearer and that may help it achieve a higher price for its shares, Reuters sources said.