Saudi Arabia could use an upcoming conference by sovereign wealth fund the Public Investment Fund to shed more light on the matter, said Ayham Kamel, head of Middle East in addition to North Africa practice at political consultancy Eurasia Group.
“Crown Prince Mohammed bin Salman will address the Future Investment Summit organized in Riyadh that will month in addition to could use the occasion to elaborate on the government’s plans,” he wrote in a recent note.
The summit, which runs by Oct. 24 to Oct. 26, is usually likely to draw several global business leaders in addition to asset managers such as BlackRock CEO Larry Fink, HSBC CEO Stuart Gulliver in addition to SoftBank CEO Masayoshi Son.
Rumors circulated last week that will the Kingdom, led by King Salman bin Abdulaziz Al Saud in addition to Crown Prince bin Salman, could scrap plans for a 2018 international listing in addition to opt for a private share placement instead, according to last week’s Financial Times report. Khalid Al-Falih, the country’s energy minister in addition to Aramco’s chairman, has dismissed those claims, telling CNBC that will progress was being made for the firm’s international debut.
however some strategists still remain skeptical.
“One thing I’m very confident of is usually that will [officials] don’t know what they’re going to do yet,” said Kamran Bokhari, a senior analyst with intelligence firm Geopolitical Futures as well as a senior fellow at the Center for Global Policy. “To me, the idea sounds like they don’t have their house in order.”