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Tag: Aramco IPO delay

Aramco could delay IPO after Drone Attacks
Market, MIDDLE EAST

Aramco could delay IPO after Drone Attacks

New York, Sept 16 (AFP)- Saudi authorities are considering whether to delay an IPO for oil giant Aramco after this weekend's attack on its oil facilities shut down much of its production, people with knowledge of the matter said.  "They're in the process of assessing the damage. It's a possibility but it's still very early," said one of the persons who spoke on condition of anonymity. Aramco had planned to debut in November on a local stock market before listing on an international one next year, sources had told AFP last week. The IPO could be the largest ever, with the company's valuation poised to top USD 1 trillion. The company's plans appeared to have accelerated in recent weeks after it chose JPMorgan to lead the initial public offering, sources said. Goldman Sachs and B...