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Saudi Aramco to restart preparations for mega IPO

Saudi Arabia is restarting its preparations for a potential IPO of oil major Aramco. This comes months after the planned listing was put on hold, say sources close to the matter.

Photo: Ahmed Jadallah / Reuters / Ritzau Scanpix

Saudi Arabia is restarting preparations for a potential initial public offering of oil giant Aramco, months after putting the planned listing on hold, people familiar with the matter said.

Aramco, the world's most profitable company, recently held talks with a select group of investment banks to discuss potential roles on the offering, according to the people. Detailed work on the IPO may pick up speed later this year or early next year, the people said, asking not to be identified because the information is private.

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