Pressure On Saudi Families Complicates Aramco IPO

Saudi Arabia’s decision to pressure wealthy families in the kingdom to back the listing of its state oil giant is the latest sign Crown Prince Mohammed bin Salman has one underlying message: show me the money.

Simeon Kerr, Anjli Raval and David Sheppard, Financial Times
aramco ipo

Saudi Arabia’s decision to pressure wealthy families in the kingdom to back the listing of its state oil giant is the latest sign Crown Prince Mohammed bin Salman has one underlying message: show me the money.

Even before last weekend’s devastating attack at the heart of the Saudi energy industry, the kingdom was trying to raise cash to fund the transformation of its economy.

A stock market listing for Saudi Aramco has long been seen as the centerpiece of Prince Mohammed’s vision, with proceeds to be funneled into sectors beyond oil that will propel the kingdom’s economy into the future.

Already have an account? Log In

Subscribe now to get unmatched and complete coverage of the Energy industry’s entire landscape!

View our subscription options
  • Access to site wide content
  • Access to our proprietary databases
  • Watch exclusive videos with energy executives
  • Unlimited access to an extensive library of Playbooks, Techbooks, Yearbooks, supplements, and special reports
  • Newly Added! Access to Rextag's Energy Datalink, containing extensive GIS databases of energy assets, production records, processing capacities, physical locations, planned projects, acquisition records, and much more.