Dubai/London: Saudi Aramco’s board is expected to give final approvals to proceed with its mammoth share sale next week, according to people familiar with the matter. Aramco is speeding up preparations for the IPO with an aim of listing on the Saudi bourse as soon as November, Bloomberg News has reported. Investment banks’ research teams are in the midst of preparing pre-IPO reports on Aramco, according to an internal schedule seen by Bloomberg. Meanwhile, Singapore’s Temasek Holdings Pte has decided against investing in the Aramco’s IPO, in part over environmental concerns, according to people familiar with the matter. But Temasek’s focus on sustainability and environmental, social and governance principles made it more difficult to support Aramco’s share sale, the people said, asking not to be identified because the discussions are private.

Source: Mint October 10, 2019 17:15 UTC