Saudi officials want a planned listing to go ahead in 2020 or 2021
Saudi Aramco has invited analysts and investors to join its first investor earnings call next month as it prepares an initial public offering, according to an Aramco email seen by Reuters.
In the July 21 email, Aramco investor relations said that “Saudi Aramco will be holding its first investor earnings call in August to coincide with the publication of our H1 2019 financial results.”
Saudi Arabian energy minister Khalid Al-Falih has previously said that the kingdom wants the listing to go ahead in 2020 or 2021.
According to a recent report from Bloomberg, a number of banks originally associated with Aramco’s plans – including Evercore Inc, HSBC Holdings, JP Morgan Chase & Co and Morgan Stanley – are having internal discussions about whether to re-pitch for a role as the kingdom restarts preparations for the listing.
Citing people familiar with the discussions, the banks are aware that there could be business and political consequences if they don’t put themselves forward for a role, and that most are likely to decide to do so.
Earlier this month, Saudi Aramco reportedly held talks with a group of investment banks to discuss potential roles.