IPO

Middle East

Saudi Arabia cuts $2trillion Aramco valuation

Saudi Arabia set a valuation target for Aramco’s initial public offering well below Crown Prince Mohammed bin Salman’s goal of $2 trillion and pared back the size of the sale to ensure the world’s largest oil producer successfully lists on the Riyadh stock exchange next month.

Middle East

Saudis raise oil reserves ahead of Aramco’s planned IPO

Saudi Arabia published the first audit of its vast oil reserves since it nationalized its energy industry about 40 years ago, saying its reserves total 268.5 billion, slightly more than the 266.3 billion figure that the government published previously.

Oil & Gas

Saudis play down Aramco float cancellation

Saudi Arabia has insisted it "remains committed" to a two trillion US dollar (£1.5 trillion) stock market listing of oil giant Saudi Aramco, despite reports suggesting it has been abandoned.

Oil & Gas

Aramco IPO preparations stall, report says

Saudi Aramco and the country aren’t ready for an IPO that could raise $100 billion but also bring unprecedented scrutiny to the company, the Wall St. Journal reported, citing Saudi officials and people close to the process.