Saudi Aramco considers shelving international IPO: Financial Times

Saudi Aramco can be considering to sell shares privately rather than list them publicly, the Financial Times reported Friday, citing all 5 sources familiar with the matter.

Talks between the Saudi state oil giant in addition to the earth’s largest sovereign wealth funds in addition to institutional investors have picked up within the last few weeks, the sources told the newspaper.

A Saudi Aramco spokesperson told CNBC which “a range of options, for the public listing of Saudi Aramco, continue to be held under active review. No decision has been made in addition to the IPO process remains on track.”

the earth’s major financial centers have vied to host Saudi Aramco’s public stock offering, which could raise an estimated $100 billion.

Even if Saudi Aramco decided to sell shares privately, the company could still plan to list shares on the kingdom’s Tadawul exchange next year, the FT said, citing sources. An international listing could also follow, although likely not until 2019 or later, the newspaper said.

The Chinese government can be close to playing a key role in any brand-new plan for offering shares, the FT report said, citing a person working for Saudi Aramco.

Read the full Financial Times story here.