WASHINGTON (dpa-AFX) - Oil giant Saudi Aramco is reportedly considering shelving plans of its IPO.
According to Financial Times, Saudi Aramco is considering to drop its plans for an international listing and prefers a private share sale to funds and institutional investors.
The reports says that talks about a private sale to foreign governments including China and other investors have commenced. The company currently does not see feasibility of an international listing.
If Saudi Aramco goes forward with the private share sale option, its plan for an international listing could be delayed until at least 2019. The company, however, will still aim to list shares on the Saudi kingdom's Tadawul exchange next year itself.
Meanwhile, CNBC reports that Saudi Aramco has denied the reports that it is shelving IPO and said it remains on track to offer shares to the public.
'A range of options, for the public listing of Saudi Aramco, continue to be held under active review. No decision has been made and the IPO process remains on track,' CNBC quotes a Saudi Aramco spokesman.
Copyright RTT News/dpa-AFX
© 2017 AFX News
