Less than 5 per cent of Aramco to be sold: Saudi deputy crown prince

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[April 25, 2016]  RIYADH (Reuters) - Saudi Arabia plans to sell less than 5 percent of its state oil giant Saudi Aramco [SDABO.UL] via an initial public offering (IPO), Deputy Crown Prince Mohammed bin Salman said in a television interview on Monday.

He also said he expected Aramco to be valued at more than $2 trillion, and that he wanted it to be transformed into a holding company with an elected board, and then added that subsidiaries of the company would also be sold by IPO.

"The 5 percent is from the parent company," he said on television.

(Reporting By Angus McDowall)

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