Saudi Crown Prince's 2021 Aramco IPO Deadline Is a Daunting Test - Bloomberg:
One of the biggest-ever mergers in the oil industry. The largest corporate bond sale on record. The most lucrative initial public offering in "human history." The timetable: two and a half years.
After a summer when the IPO of Saudi Arabia’s state oil-giant Aramco appeared set for semi-permanent limbo, Crown Prince Mohammed bin Salman has not only revived it, but imposed a schedule for achieving a series of deals that would test any management team.
The 33-year-old heir to the Saudi throne wants Aramco to complete a deal to buy a $70 billion stake in the kingdom’s biggest petrochemical company, Sabic, issue debt to finance the acquisition and go public by late 2020 or early 2021.
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