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Aramco keeps IPO on a hold
Aug. 23, 2018
Source: World Oil

Aramco keeps IPO on a hold

According to sources, Saudi Arabian Oil Co. has shifted its focus to buying the strategic stakes in Saudi Basic Industries Corp., a chemical giant, while keeping its IPO on hold. Furthermore, Aramco has written to some of its advisors asking them to suspend the work for now. In January 2016, the IPO process started after the crown prince announced that Riyadh wants to sell its shares in Aramco

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