Deals
Saudi Aramco to Restart Preparations for Mega IPO
- Oil giant holds talks with select group of investment banks
- Detailed work on listing could pick up speed later this year
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Saudi Arabia is restarting preparations for a potential initial public offering of oil giant Aramco, months after putting the planned listing on hold, people familiar with the matter said.
Aramco, the world’s most profitable company, recently held talks with a select group of investment banks to discuss potential roles on the offering, according to the people. Detailed work on the IPO may pick up speed later this year or early next year, the people said, asking not to be identified because the information is private.