Saudi and Japanese officials will hold meetings to discuss Japanese investment into the planned initial public offering (IPO) of a small part of Riyadh-controlled Saudi Aramco, said Khalid Al-Falih, the kingdom's energy minister.
Saudi's Deputy Crown Prince, Mohammed bin Salman, unveiled ambitious plans earlier this year aimed at ending the country's "addiction" to oil and transforming it into a global investment power. The IPO of less than 5 percent of state-run Aramco is a centrepiece of that effort.
"We have a great relationship with energy companies in Japan and also financial institutions," Saudi's Falih said. "I am sure the IPO of Saudi Aramco will receive great participation from the financial industry in Japan."