THE timing of the highly anticipated stock market debut of Saudi power colossus Aramco will be dictated by de facto ruler Crown Prince Mohammed bin Salman, said the energy minister today.
Aramco was expected to launch the first part of a two-stage initial public offering (IPO) earlier this month, but the process has been delayed, reportedly due to the prince’s dissatisfaction with the valuation of the firm, which had been hoped to reach US$2 trillion (RM8.37 trillion).