Saudi King Tipped the Scale Against Aramco IPO Plans

Reuter News

27 August 2018

After months of setbacks, the international and domestic legs of the Saudi Aramco initial public offering (IPO) were pulled. The reason: King Salman stepped in to shelve it, three sources with ties to government insiders told Reuters. The sources said that even though the king’s decision was a blow to the prince’s agenda, he is still the favourite son and heir with a major influence on policy. “I’m not sure that I would see it as an undermining of the rule of the crown prince. It’s much more likely ensuring that he doesn’t go off the deep end,” said James Dorsey, a senior fellow at Singapore’s RSIS.

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