Saudi Arabia got back to its plan to sell shares of oil giant Aramco, Reuters reports. Now IPO is planned in 2021, while the company is still evaluated at $2 trillion or more.

Last two years Saudi Arabia was getting ready to sell up to 5% of national oil corporation at stock market to reduce dependence on oil income and make the country’s economy more open to the world. But then the plans were delayed.

If these plans are implemented, then it will be the largest IPO in history.

As Bloomberg informs, Saudi Arabia is going to keep its promise to substitute Iranian oil volumes that will be lost after US sanctions.

Saudi Arabia’s shares showed the biggest losses on Friday last week in the Middle East market, despite of announcement in regards to Aramco. Tadawul All Share Index lost more than 1% on Friday. Correlation of index with Brent oil price was the highest since July 2017.

According to analytics’ opinion, investors need more clarity in regards to reasons why plans on Aramco’s IPO were delayed and what the chances of its implementation are now.