Saudi Aramco slams claims IPO to be shelved and says it will float in 2018

Saudi Aramco has refuted reports that its planned float is set to be shelved.

The group was addressing claims in the Financial Times over the weekend that the oil giant was considering shelving plans for an international listing in favour of a private share sale to the world’s biggest sovereign wealth funds and institutional investors.

Today the company issued a statement via Twitter, and said the FT's report was "entirely speculative".

"All listing venues under review for optimal decision, IPO process is on track for 2018," the firm said.

FT report on Saudi Aramco IPO is entirely speculative. All listing venues under review for optimal decision,IPO process is on track for 2018
— aramco | أرامكو (@Saudi_Aramco) October 14, 2017

This is not the first time Aramco has been forced to reiterate its intention to float next year. At an energy forum held in Moscow earlier this month, the group's chief executive Amin Nasser addressed reports that the IPO was facing delays, and said it was progressing as planned.

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