Saudi Arabia is restarting preparations for a potential initial public offering of oil giant Aramco, months after putting the planned listing on hold, people familiar with the matter said. Saudi Crown Prince Mohammed bin Salman is also keen to list Aramco in New York, but advisers are wary of opening up the company to the risks of U.S. litigation. Aramco was originally working with Evercore Inc., Moelis & Co., HSBC Holdings Plc, JPMorgan Chase & Co. and Morgan Stanley on the planned share sale. No final decisions have been made, and the timeline for the share sale could still change, the people said. Aramco, officially known as Saudi Arabian Oil Co., didn’t immediately respond to requests for comment.

Source: Mint July 02, 2019 14:26 UTC