Loyal citizens: Saudi people wearing traditional clothes perform during the 89th annual National Day of Saudi Arabia in Riyadh recently. Many Saudis see the IPO as a demonstration of loyalty as tension mounts in the Gulf. — Reuters
RIYADH: Nawaf Abdel-Aziz has never put any money into the stock market before, but he says buying shares in the world’s most profitable company is a no-brainer.
The 29-year-old engineer from Riyadh is among the Saudi faithful waiting to get a piece of Crown Prince Mohammed bin Salman’s much vaunted-and delayed-sale of a stake in oil giant Aramco. The initial public offering, likely the biggest in history, is expected to get the green light in coming days.
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