Fri. Nov 27th, 2020

Saudi Aramco scales back preparations for flotation

Saudi state oil firm scraps plans to market shares to investors outside Middle East

Saudi Arabia’s state-owned oil corporation has scaled back preparations for its public listing by scrapping plans to market shares in the company to investors outside the Middle East.

Saudi Aramco has reportedly ruled out a formal investor roadshow across Asia, the US and Europe just weeks ahead of a planned initial public offering on Riyadh’s Tadawul stock exchange.

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