Pressure on Saudi families complicates Aramco IPO | Financial Times:
Saudi Arabia’s decision to pressure wealthy families in the kingdom to back the listing of its state oil giant is the latest sign Crown Prince Mohammed bin Salman has one underlying message: show me the money.
Even before last weekend’s devastating attack at the heart of the Saudi energy industry, the kingdom was trying to raise cash to fund the transformation of its economy.
A stock market listing for Saudi Aramco has long been seen as the centrepiece of Prince Mohammed’s vision, with proceeds to be funnelled into sectors beyond oil that will propel the kingdom’s economy into the future.
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