Saudi Aramco is pushing to complete its initial public offering this year by relying more on local investors, after international money managers’ skepticism triggered a delay, people with knowledge of the matter said.
The state-owned oil producer is considering making a formal announcement of the listing plan as soon as the next few weeks, according to the people, who asked not to be identified because the information is private. The kickoff, originally slated for Oct. 20, was postponed after overseas investors pushed back at its touted $2 trillion valuation.
