Reuters (DUBAI)

Saudi Finance Minister Mohammed al-Jadaan told bond investors during a presentation on Monday that the initial public offering of Saudi state oil giant Aramco will proceed as planned in 2018, sources familiar with the matter told Reuters.

Aramco has previously said the listing remained "on track" after a report that the oil company was preparing contingency plans for a possible delay into 2019.

saudi arabia held the global investor call in preparation for a potential third international bond issuance, after issuing a $17.5 billion international bond last year and a $9 billion sukuk in April.

saudi arabia also plans to introduce of a value-added tax (VAT), which Jadaan said the government is ready to implement as scheduled at the start of 2018.