Saudi Aramco international IPO delay makes sense as the oil rally looks set to continue, investor says
Publishing timestamp: 2018-04-24 05:27:20
Summary
The international listing of Saudi Aramco is likely to be delayed until 2019, as oil prices are expected to reach $80 per barrel. The company is still expected to list on the Saudi stock exchange in the second half of this year, but the international listing has been temporarily shelved. The decision to wait for higher oil prices makes sense, and there are still questions about which international exchange Saudi Aramco will list on. The focus is on how Saudi Arabia will use the proceeds to diversify its economy away from oil reliance.
Sentiment: NEUTRAL
Keywords: markets, saudi arabia, wti crude (mar'23), energy, middle east, oil and gas, economy, capital connection, investment strategy, business news, ice brent crude (apr'23),
Source: https://www.cnbc.com/2018/04/24/amwal-capital-partners-on-saudi-aramco-ipo-saudi-arabia-economy.html