Saudi central bank says Aramco IPO not causing liquidity issues for banks - Reuters:
Saudi Arabia’s central bank is monitoring banking indicators on a daily basis and is not seeing any impact on liquidity from oil giant Aramco’s initial public offering (IPO), its governor said on Sunday.
Saudi Arabian Monetary Authority governor Ahmed al-Kholifey told Reuters on the sidelines of a conference that he had no concerns about liquidity due to the size of Aramco’s IPO.
“We are monitoring all indicators on a daily basis and if there is any squeeze on liquidity, definitely we’ll be injecting liquidity but so far ... everything is assuring,” he said.
Aramco plans to sell 1.5% of the company, giving it a potential market value of as much as $1.7 trillion in a deal that is the centrepiece of Crown Prince Mohammed bin Salman’s plans to diversify the oil-dependent economy.
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