Exclusive: Saudi central bank vets local lenders ahead of Aramco IPO – sources - Reuters:
The Saudi central bank is vetting local lenders’ exposure to Saudi Aramco ahead of an initial public offering (IPO) of the state-oil giant that will likely see large numbers of Saudi investors seek loans to buy its stock, three sources familiar with the matter said.
The Saudi Arabian Monetary Authority, or SAMA, contacted Saudi banks last week, asking them a series of questions about their lending exposure to Aramco, two of the sources said.
Saudi investors are expected to be large buyers of Aramco shares, partly because of a “patriotic” push to own a piece of the kingdom’s crown jewels after an attack on oil facilities last month crippled Saudi crude production and exposed the country’s defense vulnerabilities.
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