Oil & Gas
Next stop Abu Dhabi: Aramco in regional push to sell shares
(Bloomberg) –Saudi Aramco will meet investors in Abu Dhabi on Monday to drum up support for its share sale after pitching the offering in Dubai.
Chief Financial Officer Khalid Al-Dabbagh on Sunday briefed potential investors on strategy and dividend plans at the Ritz-Carlton hotel in Dubai’s financial district, according to several participants who attended, but asked not to be identified because the meetings are private.
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.
Read more: Saudi Stocks Rise as Aramco Seeks $1.7 Trillion Valuation in IPO
Aramco’s IPO is turning into a mainly regional affair after most international money managers balked at the reduced price target of $1.6 trillion to $1.71 trillion. The deal will now rely on local investors and won’t be marketed in the U.S., Canada and Japan. Roadshow events in London and other European cities were also canceled.
Still, some investors leaving the Dubai meeting said they were positive about Aramco’s prospects and would consider investing. Bankers on the deal saw sufficient early demand to pull off the IPO just three days after its launch, people with knowledge of the matter have said.
Read: Aramco Faces Serious Risks From Climate Change, Report Says
Saudi Arabia planned the offering as part of its economic diversification, using the company’s oil wealth to attract foreign capital.
–With assistance from Verity Ratcliffe, Matthew Martin and Archana Narayanan.
-
Highlights4 weeks agoOERLive: Top 10 Mathematical Problems AI Has Solved or Transformed
-
Magazines3 weeks agoOER Magazine July Edition 2026
-
Magazines3 weeks agoAl Mar’a Magazine July 2026
-
Banking & Finance2 months agoOman Housing Bank launches digital waiting list for housing loans
-
Alamaliktistaad Magazines3 weeks agoAlam Al-Iktisaad Magazine July 2026 Edition
-
Banking & Finance1 month agoOman Arab Bank CEO Sulaiman Al Harthi Retires as Ali Al Mani Is Named Successor
-
Banking & Finance1 month agoOERLive ANALYSIS: The Coldcard Hack Shows Why Bitcoin Self-Custody Remains Difficult for Ordinary Users
-
News1 month agoMade by Google 2026: Top 10 Biggest Launches You Need to Know – From the New Pixel 11 to a Life-Saving AI Watch
