International co-ordinators defend Aramco relevance

Aramco_facility_PA_230x150_Nov21
By Sam Kerr
21 Nov 2019

Global banks working on Saudi Aramco’s IPO have dismissed claims that they are effectively sidelined and insist they are engaging international investors, despite the issuer’s decision not to roadshow outside the Gulf.

The IPO of Saudi Aramco is being marketed to locals only, after international investors made it clear that they wanted a greater concession for the oil giant than Saudi Arabia was willing to give.

Saudi Aramco will sell shares between Sr30 ($8) and Sr32, which corresponds to a ...

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