Skip to content
Subscriber Only

Saudi Aramco Pushing to Complete Mammoth IPO This Year

  • Oil giant considers formal announcement in next few weeks
  • Aramco to rely more on demand from Saudi, regional investors
Bloomberg business news
Aramco IPO Delay Could Be 'Blessing in Disguise': Al Dhabi Capital
Updated on

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.