Why Saudi Arabia's Delayed Aramco IPO Is No Ordinary Share Sale - Bloomberg:
It makes more profit than any other company in the world, but is it the most valuable? The answer could come as soon as November, when Saudi Aramco is finally set to go ahead with a mammoth initial public offering. The delayed share sale is part of a grand vision to reshape Saudi Arabia’s economy by the kingdom’s controversial Crown Prince Mohammed bin Salman. It’s no ordinary IPO, and not just because of its size.
1. What’s different?
Saudi Arabia is leaning on its allies and subjects to help out. Wealthy families in the kingdom, some of which had members detained and accused of corruption by the government two years ago, have been encouraged to invest. Saudi Arabia is also trying to convince sovereign wealth funds to join the fray.
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