Aramco’s IPO re­lies on mar­ket con­di­tions

The Korea Times - - WORLD BUSINESS -

DUBAI (AFP) — Saudi Aramco said Sun­day the tim­ing of its long-awaited stock mar­ket de­but “will de­pend on mar­ket con­di­tions,” af­ter the lat­est de­lay in the block­buster ini­tial pub­lic of­fer­ing.

The IPO forms the cor­ner­stone of a re­form pro­gram con­ceived by the king­dom’s de facto ruler Crown Prince Mo­hammed bin Sal­man to wean the Saudi econ­omy off its reliance on oil.

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