Before going forward with the IPO, officials are reportedly seeking clarity on the damage to Saudi Aramco.
Saudi officials are weighing a delay of Saudi Aramco's IPO after drone attacks cut Saudi oil production, the Wall Street Journal reported. The officials are reportedly waiting for clarity on damage before moving forward. The attack could lower the valuation of the company even if the price of oil continues to rise. Aramco's valuation had not accounted for the risks associated with such serious attacks, an official told the WSJ. Read more on Markets Insider.
Saudi officials are weighing a delay of Saudi Aramco's IPO after drone attacks cut Saudi oil production, the Wall Street Journal reported. The officials are reportedly waiting for clarity on damage before moving forward. The attack could lower the valuation of the company even if the price of oil continues to rise. Aramco's valuation had not accounted for the risks associated with such serious attacks, an official told the WSJ. Read more on Markets Insider.
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