"The Company has recently entered into non-binding agreements regarding the expansion of its downstream business in Asia, including entering into a non-binding letter of intent with Reliance Industries Limited on August 12, 2019 to purchase a 20 per cent stake in its oil to chemicals division," it said. In addition, Aramco will be expanding into India among the high growth markets as a key growth strategy. "Furthermore, the Company intends to enhance its domestic and global marketing businesses to support the position of its upstream business in key, high-growth geographies, including China, India and Southeast Asia, which are integral to the Company's existing business and future expansion strategy." Saudi Aramco has issued the prospectus for its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul). Saudi Aramco, the world's largest integrated oil and gas company, is wholly owned by the government of the Kingdom of Saudi Arabia.