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Dreams Of An Aramco IPO Are Fading Fast

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Via Oilprice.com

Once again reports are out that Saudi Aramco is said to be pushing its mammoth IPO top completed by the end of this year (reportedly relying more on Saudi and MidEast regional investors).

The kickoff, originally scheduled for Oct. 20, was delayed after Aramco got mixed feedback from international investors. Bloomberg reports that Aramco now plans to press on with the listing plans by relying more on investors from Saudi Arabia and other parts of the Middle East to buy its shares, the people said, asking not to be identified because the information is private.

But, as S&P Global Platts Insight blog notes, Saudi Aramco’s IPO looks doomed to failure as it targets a $2 trillion flotation. Tepid oil prices, the fraught politics of the Middle East and the demonization of fossil fuel producers in response to climate change fears have all made the initial public offering (IPO) a mission impossible.




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