The biggest initial public offering ever is likely to be delayed until 2019, according to the Financial Times.
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Saudi Aramco, the state-owned Saudi Arabian oil giant, had intended to go public in late 2018, but is likely to push back its IPO into next year due to difficulties in setting up the complex offering, which is valued at an estimated $2 trillion, FT reported Sunday.
The company has been shrouded in secrecy, and advisers are struggling to achieve the valuation sought by Saudi Crown Prince Mohammed bin Salman, the FT said.
Exchanges around the world have vied to host the listing, with the New York Stock Exchange and London Stock Exchange seen as the top contenders