Saudis prepare for possible delay to Aramco IPO: Bloomberg


(Reuters) – Saudi Arabia is preparing contingency plans for a possible delay to the planned initial public share offering of Saudi Aramco IPO-ARMO.SE by a few months into 2019, Bloomberg reported on Wednesday, citing people familiar with the matter.

The government is still aiming for the IPO of the state-owned oil giant in the second half of 2018, but that timetable is increasingly tight for what is likely to be the biggest share sale in history, according to the report.

Saudi Arabian Oil Co, known as Saudi Aramco, was not immediately available for comment.

Saudi authorities are aiming to list up to 5 percent of the world’s largest oil producer on both the Saudi stock exchange in Riyadh, the Tadawul, and one or more international markets in an IPO that could raise $100 billion.

Reporting by Ismail Shakil in Bengaluru; Editing by Sriraj Kalluvila

Our Standards:The Thomson Reuters Trust Principles.

Source link

Products You May Like

Articles You May Like

Taylor Swift shakes off copyright lawsuit as 'ridiculous'
Country music singer Thomas Rhett debuts atop Billboard chart
Trump administration red tape tangles up visas for skilled foreigners, data shows
Mexico school collapse spurs doubts over building code for quakes
Toshiba says seals $18 billion deal to sell chip unit to Bain Capital group

Leave a Reply

Your email address will not be published. Required fields are marked *