Saudi Aramco has postponed the launch of its hotly anticipated initial public offering, the latest setback for what would be the world’s largest-ever stock market listing. In a statement, Aramco said the company continues to engage with its owners, the Saudi government, on readiness for an IPO. Saudi Arabia blamed Iran for orchestrating the attacks. Following the Sept 14. strikes, Saudi officials discussed delaying Aramco’s IPO, but they later decided to press ahead, according to people familiar with the matter. In anticipation of the Aramco IPO, Saudi Arabia’s stock market has transformed itself in the past five years by opening to international investors and introducing investor friendly reforms.

Source: Wall Street Journal October 17, 2019 18:58 UTC