Why Saudi Arabia's Delayed Aramco IPO Is No Ordinary Share Sale - Bloomberg:
Saudi Aramco’s much heralded and oft-delayed initial public offering is going ahead -- albeit in a scaled-down version of the original plan by Saudi Crown Prince Mohammed bin Salman. There’ll be no grand opening on the London or New York stock exchanges -- the sale is restricted to the Saudi bourse and won’t even by marketed to most international money managers. Investors will be able to purchase just 1.5% of the world’s most profitable company -- about half what was previously considered. Even so, the share sale in early December will come close to, or even surpass, the record for the biggest IPO in history.
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