Offshore

Saudi Aramco cancels international roadshow ahead of IPO

Saudi Arabia drops marketing plans for state-owned oil company Aramco outside the kingdom and its closest Gulf neighbors. The country aims to sell shares worth USD 25 billion in advance.
Photo: Maxim Shemetov/REUTERS / X90156
Photo: Maxim Shemetov/REUTERS / X90156
BY RITZAU FINANS

Saudi Arabia has given up on its plans to formally market the shares of state-owned oil company Aramco outside the kingdom and its Gulf region neighbors, marking the latest sign of reduced ambition for the initial public offering, reports Financial Times.

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