Investing.com - Most observers expect Saudi Arabia to proceed with oil giant Aramco IPO but some have doubts.
(NYSE:JPMorgan), other banks advising kingdom to get Aramco in financial shape for listing.
Aramco income tax rate of 85% needs to be cut; also pays 20% royalty to Saudi state.
IPO of 5% of Aramco worth estimated $100 bn expected in Q2-Q3 of next year.
Aramco reserves not included in deal for reasons of national security.
Other assets still big enough to merit valuation in one trillion dollar range.
Saudi exchange listing; NYSE listing unlikely due to oil reserves U.S. disclosure requirement.
Aramco may also be listed on London, Tokyo or Hong Kong exchanges.