Reuters

Posted: 6 December 2019

No Riyadh rush as many global investors steer clear of Aramco IPO

 

Few industry experts anticipated lukewarm global interest when the crown prince sent the energy and finance worlds into high excitement in 2016 as he announced plans to list the world’s most profitable company, including a marquee international debut, staging the biggest IPO in history.

When this was announced, the Saudis and the crown prince in particular were looking for something that was going to put Aramco on the international investor map and that clearly hasn’t happened,” said Charles Hollis, a former UK-Saudi diplomat and director at intelligence consultancy Falanx Assynt.