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British officials told Saudi Aramco IPO unlikely until 2019: Report

The state-run oil company is expected to sell about 5% of Aramco in what would likely be the world's biggest IPO


British officials have been informed by their Saudi counterparts that oil giant Saudi Aramco's initial public offering is likely to be delayed until 2019, the Financial Times reported. The Saudi government had targeted a market listing by the second half of 2018, but preparedness for the offering and also willingness for a simultaneous or sequential flotation on a foreign exchange had been questioned, the FT reported, citing sources. London still had a good chance to secure the listing, which would value the company at $2 trillion, but a foreign flotation would likely happen ...

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First Published: Mon, March 12 2018. 20:14 IST