Looks like the Aramco IPO is going to flop. What I am hearing out there is that investors want to know, why is 5% of Aramco worth 2 trillion dollars? There is too much secrecy in this IPO, the Saudis are not opening up the books. Looks like nothing will really move until Aramco gets a large international accounting firm to do a full valuation of the company and all its assets. If the price of oil were $80/barrel, well, perhaps a full valuation would not be so important; but right now, it is important.
Nov 15, 2019, Saudi Arabian officials have told bankers they are unhappy with the level of foreign demand for Saudi Aramco, adding to pressure ahead of an investor roadshow due to start on Sunday.
Please read more here: https://www.ft.com/content/cecbedd0-07c7-11ea-a984-fbbacad9e7dd