Aramco chooses local deal over international book

Sam Kerr

November 18, 2019 11:15 am

Aramco_local_oil_bike_PA_230x150_Nov18 — EASTERN PROVINCE, SAUDI ARABIA - OCTOBER 12, 2019: A worker rides a bicycle by oil tanks at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and gas company, at the Abqaiq oil field. On 14 September 2019, two of the major Saudi oil facilities, Abqaiq and Khurais, suffered massive attacks of explosive-laden drones and cruise missiles; the Houthi movement, also known as Ansar Allah, claimed responsibility for the attacks. Stanislav Krasilnikov/TASS | Stanislav Krasilnikov/Tass/PA Images

The IPO of Saudi Aramco will be a local affair after international investors made clear that they wanted a greater concession for the oil giant than the Saudi Arabia was willing to give.

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Topics

Equity IPOs Equity Middle East Saudi Arabia Emerging Markets EMEA Middle East Equity EM Middle East GCC

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Sam Kerr