Aramco Drops International IPO Road Show

摘要

Saudi Aramco has canceled plans to actively promote its initial public offering (IPO) via an international road show, amid signs of lukewarm interest among major overseas investors. It also announced an indicative price range for its shares that values the world' s biggest oil company at far less than the $2 trillion originally targeted by Saudi Arabia' s leadership (IOD Nov.5' 19). Aramco said on Sunday that the Saudi government plans to sell 1.5% of the company' s shares at a price of 30 riyals ($8) to 32 riyals ($8.53), valuing the world' s biggest oil company at $1.6 billion- $1.7 trillion.