Saudi Aramco is expected to announce a drop in profits as it unveils Monday its first annual results since its listing, as the energy giant grapples with sinking oil prices.
The Saudi Aramco IPO was supposed to be a cornerstone of Crown Prince Mohammed bin Salman’s ambitious plan to open the gates to foreign investment in the kingdom. But there’s no sign of a stampede.
Saudi Aramco is worth up to $1.7 trillion at the price range set by the oil giant on Sunday, below the $2 trillion sought by Saudi’s crown prince but putting it in the running to become the world’s biggest IPO.
Japanese companies are unlikely to invest in Saudi Aramco’s blockbuster initial public offering (IPO) because it is difficult to evaluate the value of the world’s biggest oil company