Saudi Aramco to meet investors in Dubai and Abu Dhabi - sources
Saudi Aramco plans meetings with investors in Dubai next week, sources said, in which it is seeking to raise up to $25.6 billion in the world's biggest share sale.
The state oil giant and its advisors are hosting meetings at Dubai's Ritz Carlton Hotel at the Dubai International Financial Centre on Nov. 24, said an investor who has seen the invitation. Aramco also plans to meet investors in Abu Dhabi the day after, according to a second source at an investment firm.
Aramco could not be immediately reached for comment. The company this week cancelled roadshows in New York and London after it decided to not directly sell shares to investors in developed markets and go with a largely domestic-focused offering instead.
Saudi Aramco on Sunday set an indicative price for the deal, valuing the company at up to $1.7 trillion, below the $2 trillion sought by Saudi's crown prince but putting it in the running to become the world's biggest IPO.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Soccer star Quincy Promes has reportedly been arrested in Dubai at the request of Dutch prosecutors
Soccer-Spartak Moscow's Promes arrested in Dubai at Dutch request
Dubai World Trade Centre receives 2.47 million visitors in 2023
Abu Dhabi Arabic Language Centre launches comprehensive programme for UAE Reading Month 2024
Legends Cricket Trophy 2024: Shaun Marsh dominates as Dubai Giants' triumph