Saudi Aramco delays planned IPO: FT

(Reuters) – Saudi Aramco has delayed the planned launch of its initial public offering, the Financial Times reported on Thursday, citing three people familiar with the matter.

The world’s largest oil firm was to announce plans next week to float a 1% to 2% stake on the kingdom’s Tadawul market before a possible international listing, according to Reuters.

Saudi Aramco wanted to wait until it could provide clarity on its most recent quarterly earnings following attacks on Saudi infrastructure last month that temporarily halved production, the FT reported.

Saudi investors see the IPO as a chance to own part of the kingdom’s crown jewel and an opportunity to show patriotism after the attack.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.