Wednesday, 22 August 2018

#SaudiArabia has called off Aramco float, report suggests - BBC News

Saudi Arabia has called off Aramco float, report suggests - BBC News:

Saudi Arabia is reported to have cancelled its plans to sell shares in state oil giant Aramco, which had been billed as the largest flotation ever.

The group of financial advisers working on a plan to sell 5% of the company domestically and internationally has been disbanded, Reuters reports.

The wire service quoted a source suggesting the decision was taken some time ago but is not being announced.

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