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Aramco Gets Cool Response on IPO From U.S. Investors

  • In meetings in New York, fund managers push back on valuation
  • Saudi officials were warned shale output may upset IPO plans
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Saudi Arabia Energy Minister Khalid Al-Falih discusses the Saudi Aramco IPO, OPEC output cuts and nuclear energy.(Source: Bloomberg)
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Saudi Arabia’s willingness to delay the initial public offering of state oil company Aramco to 2019 has several motivations, from regulatory risk to competing projects in the government’s crowded agenda.

There’s another, perhaps more significant hurdle: it appears some American investors aren’t that interested.