Aramco IPO delay a benefit for the country, says top banking executive:
The decision to delay the initial public offering of Saudi Aramco was a positive development for Saudi Arabia, one of the Kingdom’s leading financial advisers said yesterday.
Carmen Haddad, CEO of the Saudi business of American banking giant Citi, told a conference in Dubai that a takeover by Aramco of SABIC, the industrial conglomerate owned by the Public Investment Fund (PF), was a more rational option.
“The Aramco postponement is a benefit for the country, and the acquisition of SABIC makes more sense,” Haddad told the Citi Middle East Media Summit.
No comments:
Post a Comment