Saudi Aramco, the world’s largest oil company, has dialled back plans for an international public share sale, and instead it will float a portion of the company onto Saudi stock exchange.
It comes after an extended period of speculation and rumour in which there had been some expectations that Aramco could list in the world’s major financial centres – New York and London were both tipped at one time or another.
But, it now reported that the international listing plans are at least temporarily on hold.
Aside from other potential regulatory issues, for example relating to governance and ownership structures, the sheer scale of the company is among the challenges.
Aramco continues to review options for an international listing, according to the Wall Street Journal.