Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Oil Drops As WSJ Reports Aramco IPO “Almost Certainly Won’t Happen”

Courtesy of ZeroHedge. View original post here.

Last we heard from inside the kingdom, the Aramco IPO had been put on hold, with inside sources telling the FT that plans for the IPO had been temporarily shelved, and that the process for selecting a venue for listing the shares had been put off until at least 2019. Then there were rumors about a private sale directly to some of the world's sovereign wealth funds – which would cutting out the investment banker middlemen who've been salivating at the prospect of winning a piece of the world's largest IPO.

Aramco

But six months into 2018, with oil prices at their highest level in three-and-a-half years and President Trump pushing Saudi Arabia and the rest of OPEC to ramp up production to help quell rising crude prices, the Wall Street Journal has dropped what looks like a bombshell on the oil market.

The Aramco IPO, which would've likely been the biggest offering in history given the company's valuation, is almost certainly not going to happen. According to the paper's inside sources, the death of the IPO has been all but officially announced.

Furthermore, WSJ reported that the IPO would bring "unprecedented scrutiny" to the Kingdom's "Crown Jewel", according to Saudi officials.

"Everyone is almost certain it is not going to happen," said a senior executive at Aramco, speaking of the IPO.

Oil prices are sliding as expectations surrounding the offering had been one of the factors supporting crude prices.

Oil

Now we wait to hear from inside the Kingdom, as officials might feel pressured to deny the rumors since they're apparently impacting the price of crude in a way that's contrary to the Kingdom's interests.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!