Aramco meets investors in last-minute bid to hit $2 trillion IPO target: sources

Saudi Aramco officials and advisers are holding last-minute meetings with invest...

DUBAI - Saudi Aramco officials and advisers are holding last-minute meetings with investors in an attempt to achieve as close to a $2 trillion valuation as possible ahead of an expected listing launch on Sunday, according to three sources.

The Aramco officials and advisers are meeting institutional investors around the world, said the three people familiar with the matter. Chief executive Amin Nasser has been meeting investors in New York and London this week, they added. “Saudi Aramco does not comment on rumors or speculations,” the company said in an emailed response to Reuters’ queries about the meetings and IPO launch date. Aramco added it was ready for the IPO, and that the timing would depend on market conditions.

“Aramco’s officials and advisers are still on the road,” said one of the sources, a major institutional investor.

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