Saudi Aramco Pushes Back Its Mega-IPO

Video credit: Wochit Business
Published on October 17, 2019 - Duration: 00:44s

Saudi Aramco Pushes Back Its Mega-IPO

Business Insider reports Saudi Aramco has delayed its scheduled mega-IPO.

The world's largest oil company was poised to go public as soon as November.

The plan was to first offer 1% or 2% of shares on Saudi Arabia's domestic exchange before listing the rest of a 5% stake internationally.

The delay is to give investors greater detail on how earnings were affected by September's drone strikes.

Saudi Crown Prince Mohammed bin Salman previously called for the firm to be valued at $2 trillion.


You are here

Related news from verified sources

Russiaโ€™s second-largest oil producer, Lukoil, is looking at joint oil and gas opportunities with Saudi Aramco in Africa, the Russian firmโ€™s president and CEO...
on October 23, 2019 • OilPrice.com

It's what you can't seeโ€”the oil beneath the Arabian sandsโ€”that potential investors in Saudi Aramco's on-again, off-again initial public offering (IPO) ought...
on October 28, 2019 • OilPrice.com