Saudi Aramco in talks to shelve international IPO: FT

(Reuters) – Saudi Aramco is considering shelving plans for an international public offering in favor of a private share sale to world sovereign funds and institutional investors, the Financial Times reported, citing people familiar with the matter.

Talks for a private sale to foreign governments, including China, and other investors have gathered pace in recent weeks, according to the report. (http://on.ft.com/2gBheCT)

The company is still looking to list its shares on Saudi Arabia’s Tadawul exchange next year if it pursues the private sale, the report said.

No final decision has yet been made and an international listing could still occur next year, the FT reported.

“A range of options, for the public listing of Saudi Aramco, continue to be held under active review. No decision has been made and the IPO process remains on track,” a Saudi Aramco spokesman said.

Saudi Aramco had formally appointed JPMorgan Chase & Co (N:), Morgan Stanley (N:) and HSBC (L:) as international financial advisers for its initial public offering, sources familiar with the matter had told Reuters in March.

Both JPMorgan and Morgan Stanley declined to comment.

A plan to list Aramco in 2018 was on track, senior Saudi officials had said in Moscow earlier this month.

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

(Reuters) – Saudi Aramco is considering shelving plans for an international public offering in favor of a private share sale to world sovereign funds and institutional investors, the Financial Times reported, citing people familiar with the matter.

Talks for a private sale to foreign governments, including China, and other investors have gathered pace in recent weeks, according to the report. (http://on.ft.com/2gBheCT)

The company is still looking to list its shares on Saudi Arabia’s Tadawul exchange next year if it pursues the private sale, the report said.

No final decision has yet been made and an international listing could still occur next year, the FT reported.

“A range of options, for the public listing of Saudi Aramco, continue to be held under active review. No decision has been made and the IPO process remains on track,” a Saudi Aramco spokesman said.

Saudi Aramco had formally appointed JPMorgan Chase & Co (N:), Morgan Stanley (N:) and HSBC (L:) as international financial advisers for its initial public offering, sources familiar with the matter had told Reuters in March.

Both JPMorgan and Morgan Stanley declined to comment.

A plan to list Aramco in 2018 was on track, senior Saudi officials had said in Moscow earlier this month.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.