Saudi Arabian Energy Minister Khalid Al-Falih revealed the plan on Wednesday in Riyadh, adding Saudi Aramco wanted flexibility in funding the Sabic deal, which could cost about $70 billion.
DUBAI: There is a silver lining for Riyadh-traded stocks in the delay to Saudi Arabian Oil Co.’s massive initial public offering.
While putting the oil giant’s market debut on hold has reduced Saudi Arabia’s likely profile on emerging-market equity indexes when the kingdom joins them next year, the decision has also removed a threat to investments in other Saudi stocks from what was set to be the world’s largest IPO.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
