Aramco IPO the elephant in the room

摘要

State-owned Saudi Aramco sees itself at the heart of the country's Vision 2030 plan to diversify Saudi Arabia's economy away from its heavy dependence on oil and to catalyse its industrialisation. But Aramco is publicly ignoring a planned initial public offering (IPO) of up to 5pc of the firm's value to raise enough cash to facilitate the transformation.