Gadfly
Here's One Spin Saudi Aramco Should Avoid Spinning
The idea that higher oil prices make an IPO unnecessary should make investors nervous.
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The latest bombshell in the Saudi Aramco IPO saga wasn't a complete bombshell. But it could still do some damage.
Saudi Arabia is reportedly scaling back plans to debut its national oil champion on an international stock exchange, according to a Wall Street Journal article published Monday afternoon. Instead, according to the unnamed sources in the story, Aramco may float on the domestic exchange next year and take its time to decide if a foreign listing is even worth it.