Published: Tue, March 13, 2018
Life&Culture | By Rose Hansen

Saudi Aramco Public Listing May Be Delayed Until 2019

Saudi Aramco Public Listing May Be Delayed Until 2019

The New York Stock Exchange, the London Stock Exchange and the Hong Kong Stock Exchange have been vying to capture the foreign market listing.

The chances of Saudi Arabia choosing either London or NY as the destination for a massive stock market listing of oil giant Saudi Aramco, may be fading.

FT on Sunday cited several officials as saying they were "warned by their Saudi counterparts" of the delay.

The newspaper interviewed relatives, advisers, associates of the detainees, as well as Saudi officials, who denied the allegations.

The state-run oil company is expected to sell about 5 per cent of Aramco in what would likely be the world's biggest IPO. Saudi officials have not-so-privately indicated that they hoped the company would be valued at some $2 trillion. Mr. bin Salman has also overseen a very public anti-corruption campaign in which scores of fellow royals were detained.

U.S. 'fully' expects summit with N. Korea
President Donald Trump, apparently toning down its rhetoric against him ahead of a historic bilateral summit. The paper is not part of North Korea's official media, but it serves as a mouthpiece for Pyongyang.

In the meeting, the United Kingdom also stressed the importance of opening ports to allow aid to enter Yemen, following the blockage of ports by the Saudi coalition.

HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, sent a cable of condolences to the Saudi King, may his soul rest in peace.

King Salman also announced that an anti-corruption conference will be held in April at which combating corruption in privatisation programs will be discussed, the Saudi government website reported. The plan is to have Aramco trade on both the kingdom's Tadawul stock exchange and a major foreign stock market, which would provide both prestige and the investor money needed to support a multibillion-dollar listing. Aramco could also sell shares in China in a private placement.

Now, others are said to be living in fear of what could be next.

King Salman's offer was made in a telephone call to Iraqi Prime Minister Haider al-Abadi on Monday, following Iraq's 4-1 defeat of Saudi Arabia in a friendly - the first between the two countries for almost four decades. "So I don't see this artificial deadline that you refer to as being significant".

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