Saudi Aramco says Saudi Aramco will remain unchanged
Recently, Saudi Arabia postponed the 2018 IPO report. The oil and financial energy conference held in London by Falich, Saudi Arabia's oil minister, made it clear that Saudi Aramco's IPO plan remained unchanged in 2018, and all preparations for IPO are in active operation.
Earlier, the Wall Street Journal said Saudi Aramco was considering setting aside a global public offering plan to issue non-public equity offerings to the world's largest sovereign wealth funds and institutional investors. Saudi Aramco denied the news.
The Chinese Financial Association, including CNPC and Sinopec, sent a letter to Saudi Aramco, expressing interest in the acquisition of no more than 5% of the shares.
When asked whether the plan of Saudi Aramco in Saudi Arabia and the international market, Saudi oil minister and chairman said fali he plan without any changes, will inform the exact place and date of listing.
Saudi Crown Prince MohammadbinSalman announced in January 2016 that Saudi Aramco will take IPO of 5% of the company's shares. The crown prince thinks the company is worth 2-3 dollars. If the valuation is approved, Saudi Aramco's IPO will be worth more than $100 billion, the largest amount of IPO to date.
The market has previously said that IPO shelved may be a breather for Saudi aramco.
First of all, Saudi Arabia's highest institutions and advisers have been worried about Saudi Aramco's international listing. Saudi Aramco's business and finance has been kept secret for decades, and its close ties with the Saudi government have attracted many financial, legal and regulatory challenges.
Secondly, global oil prices are still low. If the oil price is higher than $60 / barrel, the overall interest of the listing will be greatly improved.
In addition, international listing means strict scrutiny. A temporary delay in IPO will give Saudi Aramco a breather to consider how to respond to disclosure terms, antitrust rules and other complex listing requirements.
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