Saudi Arabia’s government is set to officially endorse this week plans to list shares in oil giant Aramco in what would be the world’s largest initial public offering (IPO) ever, the Financial Times reports, quoting people familiar with the plans. After the government approval, Aramco’s board is expected to approve the IPO plan before the official announcement of the intention to list expected for October 20, FT’s sources said. The Saudis are reportedly looking to list as much as 3 percent of the world’s largest oil company on the domestic stock exchange, Tadawul, as soon as next month. Aramco’s board of directors could give the final approval to the IPO as soon as this week, Bloomberg reported last week, citing people with knowledge of the plans. Aramco’s board has tentatively planned a meeting with the advisers to the listing around October 17 to review market conditions and feedback from a roadshow for seeking interest from possible anchor investors in the IPO, before approving the share sale, Bloomberg’s sources said. Over the past two months, Aramco has noticeably accelerated the timeline for the much-hyped listing. A US$2-trillion valuation that the Saudis seek has been one of the sticking points—together with the international venue for the listing and concerns over transparency of Saudi reserves—in the IPO that has been delayed several times already. Related: Iran President Vows Revenge For Oil Tanker Attack Amid reports that Saudi Arabia has moved to speed up the listing of Aramco and amid conflicting reports about the impact of the attacks on Saudi oil on what would be the world’s largest IPO ever, one of the latest reports coming out of the Kingdom had it that Aramco is set to announce as soon as October its intention to proceed with the IPO. Aramco will officially announce its intention to sell shares on the stock market at some point around October 20, people familiar with the planning told Bloomberg at the end of September. Saudi Aramco will issue the prospectus for its initial public offering before this month’s end, the Wall Street Journal reported last week, citing people familiar with the preparations for the biggest IPO in history. By Tsvetana Paraskova for Oilprice.com More Top Reads From Oilprice.com: Largest Oil Traders: Oil Prices Aren’t Going Anywhere Oil Giant Slashes Jobs Amid Shale Slowdown The Oil Company That Couldn't Afford Toilet Paper Now Wants To IPO Read this article on OilPrice.com