(MENAFN) Saudi Aramco has been awarded with a new status offering people the opportunity to hold stakes in the firm, seeking this year to float on the stock market.

The announcement emerged while Saudi Arabia arranges a sale under 5% of Aramco in an anticipated largest initial public offering.

The cabinet had granted approval for providing a joint-stock status to Aramco that is to be implemented 1 January 2018, based on a bulletin released in the official gazette of Saudi Arabia.

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