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Saudi Arabia's state oil giant Saudi Aramco has arranged to meet with investors in Abu Dhabi and Dubai to shore up support for its highly-anticipated IPO.
Both the valuation and stake offered in Saudi Aramco fall short of expectations.
The long-delayed IPO of Saudi Aramco is just a day away, however reports suggest that the IPO's issuer is in for disappointment from foreign investors.
Saudi Aramco, the world's top oil exporter, appointed Marwa al-Khuzaim to lead its Singapore office from December.
Trading on Saudi Aramco's initial public offering (IPO) could begin in early December.
In an effort to bolster confidence in its upcoming IPO of Aramco, Saudi Arabia's government is reportedly pressuring wealthy individuals to invest.
Aramco is the world’s most profitable company. It declared a net profit of $111.1 billion in 2018, which is higher than the profits of Apple, Google and Exxon Mobil combined.
Saudi Energy Minister and the crown prince's half brother, Prince Adulaziz bin Salman, said Mohammed bin Salman sill dictate the timing of a hugely anticipated IPO.
The Saudi oil giant is preparing for the first phase of a hugely anticipated IPO.
A report claims the highly anticipated 5 percent sale of the Saudi national oil giant will be further delayed due to the major attack on its facilities last month.