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The company wants to give investors a clear idea of its financial situation after the September drone attacks on its oil facilities, which temporarily reduced its production, says another source. Aramco is now waiting for a report to be prepared for the third quarter, and expects that good financial performance will strengthen investor confidence, two sources told CNBC and The Wall Street Journal.
IPO is delayed until December or January, writes WSJ.
The meeting with investors on September 30 raised questions for the company’s managers, the sources said. According to them, Aramco CEO Khalid Al-Dabbagh did not present at this meeting the standard data that is usually provided to investors, including not explaining how the company determines its value and did not clarify the company's relationship with the Saudi government.
On October 17, Aramco announced that it was continuing preparations for an IPO and would launch it when market conditions allowed it and when shareholders wanted it.
source: cnbc.com, ft.com
IPO is delayed until December or January, writes WSJ.
The meeting with investors on September 30 raised questions for the company’s managers, the sources said. According to them, Aramco CEO Khalid Al-Dabbagh did not present at this meeting the standard data that is usually provided to investors, including not explaining how the company determines its value and did not clarify the company's relationship with the Saudi government.
On October 17, Aramco announced that it was continuing preparations for an IPO and would launch it when market conditions allowed it and when shareholders wanted it.
source: cnbc.com, ft.com
