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Saudi Aramco delays planned IPO until after earnings update: sources

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Saudi Aramco has delayed the planned launch of its initial public offering, the Financial Times reported on Thursday, citing three people familiar ...

DUBAI/RIYADH: Saudi Aramco has delayed the planned launch of its initial public offering in hopes that pending third-quarter results will bolster investor confidence in the world's largest oil firm, two sources familiar with the matter said on Thursday.

The second source confirmed the offering had been postponed, and there was currently no new date set for the listing. Neither source knew when third quarter results were likely to come out. The prospect of Aramco selling a piece of itself has had Wall Street on tenterhooks since Crown Prince Mohammed bin Salman first flagged it three years ago.

"The official line was that the Q3 results were very good, so they want to update the analysts and market the IPO after the Q3 numbers," the second source said.

 

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Saudi Aramco delays planned IPO to allow for earnings update: sourcesSaudi Aramco has delayed the planned launch of its initial public offering, the Financial Times reported on Thursday, citing three people familiar ...
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