RIYADH: Saudi Aramco plans to delay the launch of its initial public offering as it wants to update its third-quarter earnings, two sources familiar with the matter said on Thursday.
“They want to do all what they can to hit valuation target, solid results after the attack will give them a stronger position,” one of the sources told Reuters.
Aramco was expected to formally announce early next week its plan to launch its IPO, which could have potentially raised US$20 billion.
Aramco could not be immediately reached for comment.