Saudi Aramco Public Listing May Be Delayed Until 2019
- 6 years ago
Saudi Aramco Public Listing May Be Delayed Until 2019
The company’s potential market debut, a centerpiece of an ambitious economic overhaul of Saudi Arabia led by Crown Prince Mohammed bin Salman, has drawn the interest of investors around the world —
and political leaders hoping to win the listing for that country.
The current plan is to have Aramco trade on both the kingdom’s Tadawul stock exchange
and a major foreign stock market, which would provide both prestige and the deep amount of investor money needed to support a multibillion-dollar listing
Aramco had been expected to begin trading on a public stock market later this year, but, according
to a person briefed on the company’s planning, that is now likely to happen next year.
Aramco is one of the giants in the world of oil production,
and its initial public offering is likely to be valued at a minimum of several hundred billion dollars.
Mr. bin Salman has also overseen a very public anti-corruption campaign in which scores of fellow royals were detained.
By MICHAEL J. de la MERCEDMARCH 11, 2018
Investors waiting for the chance to buy a piece of Aramco, Saudi Arabia’s state-owned oil behemoth, will have to wait.
The company’s potential market debut, a centerpiece of an ambitious economic overhaul of Saudi Arabia led by Crown Prince Mohammed bin Salman, has drawn the interest of investors around the world —
and political leaders hoping to win the listing for that country.
The current plan is to have Aramco trade on both the kingdom’s Tadawul stock exchange
and a major foreign stock market, which would provide both prestige and the deep amount of investor money needed to support a multibillion-dollar listing
Aramco had been expected to begin trading on a public stock market later this year, but, according
to a person briefed on the company’s planning, that is now likely to happen next year.
Aramco is one of the giants in the world of oil production,
and its initial public offering is likely to be valued at a minimum of several hundred billion dollars.
Mr. bin Salman has also overseen a very public anti-corruption campaign in which scores of fellow royals were detained.
By MICHAEL J. de la MERCEDMARCH 11, 2018
Investors waiting for the chance to buy a piece of Aramco, Saudi Arabia’s state-owned oil behemoth, will have to wait.