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Saudi Aramco in talks to shelve international IPO - FT

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(Reuters) - Saudi Aramco is considering shelving plans for an international public offering in favour of a private share sale to world sovereign funds and institutional investors, the Financial Times reported, citing people familiar with the matter.

Talks for a private sale to foreign governments, including China, and other investors have gathered pace in recent weeks, according to the report. (http://on.ft.com/2gBheCT)

The company is still looking to list its shares on Saudi Arabia's Tadawul exchange next year if it pursues the private sale, the report said.

No final decision has yet been made and an international listing could still occur next year, the FT reported.

"A range of options, for the public listing of Saudi Aramco, continue to be held under active review. No decision has been made and the process remains on track," a Saudi Aramco spokesman said.

Saudi Aramco had formally appointed JPMorgan Chase & Co , Morgan Stanley and HSBC as international financial advisers for its initial public offering, sources familiar with the matter had told in March.

Both JPMorgan and Morgan Stanley declined to comment.

A plan to list Aramco in 2018 was on track, senior Saudi officials had said in Moscow earlier this month.

(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Shounak Dasgupta and Martina D'Couto)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, October 14 2017. 00:43 IST
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