Aramco IPO to be delayed: report

Saudi Arabia

LONDON, March 12, 2018 – Saudi Aramco’s IPO, expected to be the world’s largest to date, will be delayed until 2019, international media reported on Monday.

The company needs additional time to prepare for a foreign listing, which is to involve the sale of 5% of Aramco’s shares for a projected USD 100 billion, the Financial Times reported, citing anonymous British officials.

London and New York are the frontrunners among the international stock exchanges vying to host the flotation, the report added.

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