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The Saudi Aramco IPO Will Hit Its Valuation Goal but Fail to Fund Vision 2030

Dec 4, 2019 | 11:00 GMT
This photo shows a sign for Saudi Aramco's initial public offering during a news conference in Dhahran, Saudi Arabia, on Nov. 3, 2019.

This sign was used during a news conference in Dhahran, Saudi Arabia, announcing Saudi Aramco's planned listing on the Riyadh stock exchange. The state-run oil company's initial public offering will hit its target valuation range when final pricing is announced Dec. 5 but will fail to attract meaningful foreign participation.

(AFP via Getty Images)

Driven by Crown Prince Mohammed bin Salman's desire for a "big win," Saudi Arabia's push to sell off a tiny slice of its state-run oil company has been a frantic series of compromises....

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