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Saudi Arabia Said to Tap Kingdom’s Rich to Anchor Aramco IPO

  • Aramco may hold formal meetings with some families next week
  • Kingdom expects Aramco to be valued at over $2 trillion
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Saudi Arabia held discussions with some of the kingdom’s wealthiest families about becoming anchor investors in Aramco’s mammoth stake sale, according to five people with knowledge of the talks.

Saudi officials made initial contact with some top business families on behalf of the oil giant, the people said, asking not to be identified because the information is private. Aramco may hold more formal meetings as early as next week after banks have been hired for the sale, three of the people said.