Saudi Arabia has reportedly delayed its plans to list shares of its state-owned oil company Aramco on the stock market.
Media reports say the initial public offering (IPO), scheduled for 2018, has been postponed indefinitely – claims denied by the Saudi government.
Khalid al-Falih, the kingdom’s energy minister, said the government “remains committed” to conducting the IPO, and that the “timing will depend on multiple factors”.
The plan to float around five percent of the oil company is expected to be the world’s largest stock sale.
It lies at the heart of Crown Prince Mohammed bin Salman’s vision to transform the economy.
So, where does this leave Saudi Arabia’s efforts to raise money and diversify its economy?
Presenter: Richelle Carey
Guests:
Mahjoub Zweiri – professor of contemporary history of the Middle East at Qatar University
Mohammed Cherkaoui – professor of conflict resolution at George Mason University
James Dorsey – senior fellow at the S. Rajaratnam School of International Studies at Nanyang Technological University
Source: Al Jazeera News
