UK Officials Told that Aramco IPO Unlikely Until 2019: Financial Times

2018-03-12 - 8:45 p

Bahrain Mirror- Reuters: British officials have been informed by their Saudi counterparts that oil giant Saudi Aramco's IPO-ARMO.SE initial public offering is likely to be delayed until 2019, the Financial Times reported.

The Saudi government had targeted a market listing by the second half of 2018, but preparedness for the offering and also willingness for a simultaneous or sequential flotation on a foreign exchange had been questioned, the FT reported, citing sources.

London still had a good chance to secure the listing, which would value the company at $2 trillion, but a foreign flotation would likely happen only in 2019 at the earliest, according to the FT.

New York and London have been front-runners to host the company's international flotation, alongside a Riyadh listing.

Saudi Energy Minister Khalid al-Falih said in an interview with CNN last week that he was concerned about the risks that Aramco would run into by choosing New York as the venue for its $100 billion market listing.

The state-run oil company is expected to sell about 5 percent of Aramco in what would likely be the world's biggest IPO.

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

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المصدر: Bahrain Mirror
رابط الموضوع: http://bhmapi.servehttp.com/en/news/45330.html