I've stated many times, there is a continuum with regard to the IPO, from the far left (it won't happen at all) to the far right (it will be an incredible success, listing on the NYSE, and over-subscribed, with Warren Buffett buying as much as he is allowed).
I tend to rest along the continuum near the left, that the IPO won't happen at all. The tea leaves suggest that, at best, the IPO might be listed only on the Riyadh bourse, as they say, watered-down and with very strict investing rules. In fact, googling Riyadh bourse today brings up this as the first hit:
- Saudi bourse adjusts rules to attract foreign funds, ease Aramco IPO, dated January 10, 2018
- Saudi Aramco's IPO is a mess, my kingdom for a horse, October 19, 2017
- Saudis weigh sole listing of Saudi Aramco shares on Riyadh stock exchange, February 18, 2018 (yesterday)
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A Fixer-Upper At The North End Of Main Street
Grapevine, Texas
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