Summary
Saudi Aramco said Sunday the timing of its long-awaited stock market debut "will depend on market conditions," after the latest delay in the blockbuster initial public offering.
Aramco was expected to launch the first part of a two-stage listing in the coming week, but the energy giant decided to push the trading date back to December or January, a person familiar with the situation told AFP last Thursday.
The prospect of the world's most profitable firm falling short of a $2 trillion valuation sought by Saudi rulers is widely considered the reason the IPO has been delayed.
Aramco has envisioned a two-stage listing, with about two percent of the capital trading on the Tadawul exchange in Saudi Arabia and an additional three percent on a foreign exchange.
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