Saudi Aramco has postponed the launch of its long-awaited initial public offering on Sunday, three people familiar with the matter said, putting the November timeline for the flotation in jeopardy.
One of these people said the company wanted to wait until it could provide investors clarity on its most recent quarterly earnings after attacks on Saudi infrastructure last month that temporarily halved production.
The government was expected to sign off on a domestic listing for Saudi Aramco this week. A board meeting was expected to follow before the company announced its intention to float on October 20 in Dhahran where the company is headquartered.
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