Saudi Aramco delays IPO until 2021
by ChemOrbis Editorial Team - content@chemorbis.com
According to media sources, Saudi Aramco’s long-awaited initial public offering (IPO) has been postponed until at least 2021.
The company reportedly stated that the listing is likely to take place after its downstream assets come into balance with its upstream business.
Aramco has recently announced the purchase of 70% stake in Saudi petrochemicals major, SABIC, which was seen as a move to diversify its portfolio toward the downstream market. The acquisition process is expected to take at least 18 months.
The company reportedly stated that the listing is likely to take place after its downstream assets come into balance with its upstream business.
Aramco has recently announced the purchase of 70% stake in Saudi petrochemicals major, SABIC, which was seen as a move to diversify its portfolio toward the downstream market. The acquisition process is expected to take at least 18 months.
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