Saudi Aramco pursues IPO planning despite attack damage doubts

Singapore News News

Saudi Aramco pursues IPO planning despite attack damage doubts
Singapore Latest News,Singapore Headlines
  • 📰 Reuters
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 97%

Saudi Aramco is pressing ahead with its listing plans this week, although some i...

RIYADH/LONDON - Saudi Aramco is pressing ahead with its listing plans this week, although some investors and analysts doubt it can now meet its timeline as it has not said when oil output will be restored after attacks on its facilities.

The state-owned oil group will meet local Saudi banks to discuss the initial public offering plans, but bankers at international lenders working on the IPO told Reuters there had been no communication from Aramco’s management on any delay. Three sources close to the deal said meetings scheduled this week with Saudi banks to discuss the underwriting work they will do in the offering are still scheduled to take place.

The Aramco IPO is a pillar of an ambitious economic diversification drive by Crown Prince Mohammed bin Salman, who has put the firm’s valuation at $2 trillion. The domestic flotation is the first step of a targeted 5% sale. A separate source with knowledge of the deal said Aramco has already carved up the different tasks for banks such as determining valuations, organizing roadshows and focusing on certain geographic areas.

However, some analysts and investors said the strikes could pose a major setback to the Aramco offering.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Saudi Aramco is reportedly weighing a delay to its record-setting IPO after drone attacksSaudi Aramco is reportedly weighing a delay to its record-setting IPO after drone attacksBefore going forward with the IPO, officials are reportedly seeking clarity on the damage to Saudi Aramco.
Read more »

Iran rejects US blame for Saudi Aramco attacks as 'pointless,' foreign minister suggests talksIran rejects US blame for Saudi Aramco attacks as 'pointless,' foreign minister suggests talks'Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may,' Zarif said on Twitter.
Read more »

What the attacks on Saudi Aramco mean for oil pricesWhat the attacks on Saudi Aramco mean for oil pricesOil prices, which have remained low for months, could spike when markets open as Saudi Arabia scrambles to repair damage to its energy infrastructure
Read more »

Aramco attacks show company entanglement in Saudi politicsAramco attacks show company entanglement in Saudi politicsThe attack on one of the world's largest crude oil processing plants is the most visible sign yet of how Aramco's stability and security is directly linked to that of its owner — the Saudi government and its ruling family.
Read more »

Detailed satellite photos show extent of 'surgical' attack damage to Saudi Aramco oil facilitiesDetailed satellite photos show extent of 'surgical' attack damage to Saudi Aramco oil facilitiesDamage to the top OPEC producer's oil facilities ignited fears of supply disruption around the world and has sent crude prices soaring.
Read more »

UAE official: Saudi Aramco attacks are a dangerous escalationUAE official: Saudi Aramco attacks are a dangerous escalationAttacks on oil plants in Saudi Arabia are a dangerous escalation and the interna...
Read more »



Render Time: 2025-03-14 17:38:26