The rumor mills were awash over the past few weeks that the Aramco IPO was either going to be cancelled or postponed. Anonymous sources also stated that the Chinese would buy the whole planned five percent of the planned IPO in a private placement, or that the IPO would be split between the Chinese and the Saudi stock market listing of Aramco. The Saudi oil giant repeatedly issued statements that the IPO was on track for 2018 and that all options were being considered as to an international venue for listing along with the Saudi Stock Exchange. Even the Saudi Energy Minister and Aramco Chairman Khalid Al Falih tried to put the rumors of cancellation or postponement to rest when he categorically stated that Aramco is still aiming to complete procedures required for its planned dual listing on the Saudi stock market and an international exchange next year. “It is on track” said the Oil Minister in London at the annual Oil and Money Conference without answering questions about rumored Chinese interest.
Rumors aside, the Saudi Aramco IPO is on track
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