REPORT: Saudi Aramco is 'considering shelving plans for an IPO'

pulse

October 13, 2017 6:56 PM

The Financial Times is reporting that Saudi Aramco is "considering shelving plans for an international public offering."

Saudi Aramco might be delaying its initial public offering.

The Financial Times' Anjli Raval, that the state-oil behemoth "is considering shelving plans for an international public offering in favour of a private share sale to the world's biggest sovereign wealth funds and institutional investors."

Five people familiar with the situation said that talks with foreign governments — including China — and other investors about a private sale have recently "gathered pace."

If the company decides to go for the private share sale option, the FT reports that an international listing could still follow, although probably not before 2019 or later.

saidsaid

The plan to float about 5% of Saudi Aramco has long been considered a priority for the kingdom's leadership. It's part of the kingdom's Vision 2030 plan, led by Crown Prince Mohammed bin Salman, which aims addiction

Check out the full story at The Financial Times here.

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