Skip to content




Markets

Asia Pacific

  • Africa

  • Egypt
  • Africa
  • (Algeria, Tunisia, Libya, Morocco, Nigeria, Kenya, Tanzania, South Africa)

Filter Options
Text :
Search Criteria :
Territory/Country :
Product Group/Product :
News Type :
My Favorites:
 

Saudi Aramco’s IPO may be delayed until next year

by ChemOrbis Editorial Team - content@chemorbis.com
  • 12/03/2018 (22:04)
According to media reports, Saudi Aramco’s long-awaited initial public offering may take place in 2019, the earliest due to difficulties in arriving at the valuation sought by the company.

The sale of 5% of the company’s shares is expected to raise as much as $100 billion, while the company is valued at a nearly $2 trillion by Saudi officials. However, many analysts measure the company’s valuation at between $1 trillion and $1.5 trillion.

The media also reported that Saudi Arabia’s energy minister hinted a possible listing on Saudi Arabia’s local exchange Tadawul, casting doubts on the Saudi Aramco’s international listing. London Stock Exchange has been vying with the New York Stock Exchange to host the huge IPO, while several Russian and Chinese investment funds are reportedly considering investing in Aramco’s shares.

The IPO is the cornerstone of the kingdom’s Vision 2030, which aims to diversify Saudi Arabia’s economy by reducing its dependence on oil revenues. The massive floatation is currently slated for the second half of 2018.
Free Trial
Member Login