Saudi Aramco looks for patriotic IPO support close to home | Financial Times:
Saudi Aramco rarely advertises locally but in recent weeks the state oil company has commandeered almost every advertising billboard in Saudi Arabia’s big cities.
“Soon on Tadawul,” the ads read, in a reference to the stock exchange in the capital Riyadh where the oil company plans to list as soon as next month.
The kingdom had always planned to market some Saudi Aramco shares to local retail investors. But the domestic market is now vital, after a lukewarm foreign reception led the company this week to abandon its plans to market shares to investors outside of Saudi Arabia and its Gulf neighbours.
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