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Saudi minister denies claims that Aramco IPO has been dropped

Saudi Arabia has denied reports that it is dropping plans to list shares in Saudi Aramco.
By Staff reporter 23 August 2018 Middle East & Africa / Companies & Finance 0 32273

Saudi Arabia has denied reports that it is dropping plans to list shares in Saudi Aramco.

Reuters reported on Wednesday that the initial public offering (IPO) for Aramco was no longer going ahead and that the country had disbanded the group of financial advisers working on the deal.

The newswire said it had spoken to four senior industry sources who had confirmed Saudi Arabia’s decision to abandon its listing plans. Reuters quoted a source suggesting the decision had been taken some time ago.

Saudi Energy Minister Khalid...