Saudi Aramco will not market IPO in the United States

Saudi Aramco will not market IPO in the United States
  • Clock-gray 10:45
  • calendar-gray 17 November 2019

Saudi Aramco does not plan to market its domestic initial public offering (IPO) in the United States, two sources familiar with the matter said, APA reports citing Reuters.

Aramco had said in its IPO prospectus earlier this month that the offering of shares would rely on the 144A rule of the U.S. Securities Act, which allows a non-U.S. issuer to tap the U.S. market.

The sources said Aramco will no longer rely on that rule, meaning it will not market the shares in the United States.

Aramco did not immediately respond to a comment request.

Mirsaid Ibrahimzade

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