Aramco's IPO is set to be Saudi only after it reportedly scrapped its London roadshow

The state-owned oil titan is targeting a $1.7 trillion valuation, which would make it the highest-valued public company in the world.

Saudi Aramco has canceled its London roadshow a day after scrapping its Asian and American ones, meaning its IPO is set to be a Saudi-only affair. It will only market shares of the most profitable company in the world within the Kingdom, according to Bloomberg and the Financial Times. The state-owned oil giant released its prospectus on Sunday, saying it will list 1.5% of its shares on the local Tadawul exchange in Riyadh, seeking a valuation of roughly $1.7 trillion.

Saudi Aramco has canceled its London roadshow a day after scrapping its Asian and American ones, meaning its IPO is set to be a Saudi-only affair. It will only market shares of the most profitable company in the world within the Kingdom, according to Bloomberg and the Financial Times. The state-owned oil giant released its prospectus on Sunday, saying it will list 1.5% of its shares on the local Tadawul exchange in Riyadh, seeking a valuation of roughly $1.7 trillion.

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