Company’s IPO to rely on local investment after international parties baulked at reduced price targets. FMTNews SaudiAramco
DUBAI: Saudi Aramco will meet investors in Abu Dhabi on Monday to drum up support for its share sale after pitching the offering in Dubai.
The event was invitation-only and participants wore name badges to access the ballroom area where the sessions were held. Attendees left with printed copies of Aramco’s more-than-600-page prospectus, but said they hadn’t received any information that wasn’t previously disclosed. The deal will now rely on local investors and won’t be marketed in the US, Canada and Japan. Roadshow events in London and other European cities were also cancelled.
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