Saudis Consider Delaying Foreign Part of Aramco IPO
- Aramco says report of possible postponement is ‘speculative’
- Offering is centerpiece to kingdom’s economic reform program
A Saudi Arabian Oil Co. (Aramco) logo sits on an electronic display at the company's corporate pavilion during the 22nd World Petroleum Congress in Istanbul, Turkey, on Wednesday, July 12, 2017. Oil fell from the lowest closing price in two weeks as talk of Libya and Nigeria being requested to cap their production failed to dispel doubts about the effectiveness of OPEC’s cut.
Photographer: Kostas Tsironis/BloombergSaudi Arabia is considering delaying the international portion of the giant initial public offering of its state oil company until at least 2019, according to people familiar with the situation, who said a domestic share sale in Riyadh could still happen next year.
A two-stage Saudi Aramco IPO is one of several options being considered, the people said, asking not to be identified because discussion are private. Another plan would include listing in Riyadh next year and privately selling a stake in Aramco to one or several cornerstone investors, one of the people said.