Saudi Arabia calls off Aramco IPO, applies for $12 billion loan
August 23, 2018 | Energy Trading & Markets, Government & Regulations, Middle East
London, UK | – Saudi Arabia has called off plans for the domestic and international listing of state oil giant Aramco, billed as the biggest stock flotation in history, four senior industry sources said on Wednesday. Financial advisers working on the planned listing have been disbanded as Saudi Arabia shifts its attention to a proposed acquisition of a “strategic stake” in local petrochemicals maker Saudi Basic Industries Corp, two of the sources said. “The decision to call off the IPO was taken some time ago, …