Aramco IPO Delay Likely
Aramco IPO Delay Likely

Aramco IPO Delay Likely

Aramco IPO Delay Likely

The much-anticipated international listing of Saudi Aramco—the world's largest oil company—is likely to be delayed until 2019, but that decision makes sense as oil prices are expected to hit $80 per barrel, a private equity investor said.
The state-owned oil firm is expected to list on the Saudi Stock Exchange in the second half of this year, but an international listing, which was at one point tipped to happen at the same time, is said to have been temporarily shelved, CNBC reported.
"Timing is of the essence," Fadi Arbid, founding partner and chief investment officer at Amwal Capital Partners, told CNBC's "Capital Connection" on Tuesday.
"For a company, for which underlying commodity is oil, it would make a lot of sense to wait for that rally. And if you believe that rally is expected to continue, I think you may as well wait."
Oil prices in recent weeks rose on concerns that sanctions by the US on Iran would squeeze supply further. During Asian trading hours on Tuesday, both Brent and West Texas Intermediate crude futures touched their highest since November 2014. There are still questions in the investing community about which international exchange Saudi Aramco would list on, with exchanges in New York, London and even those in China in the running for a slice of the public share offering.


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