Petronas takes a hard pass on being part of Aramco’s IPO
Malaysia’s state oil firm says it won’t be taking part with Aramco yet to reveal any major foreign interest in its listing
22 November 2019 - 14:54
Kuala Lumpur/London — With Saudi Aramco yet to name any major foreign investors in its upcoming share sale, Malaysia’s state energy company Petronas decided to take a pass on Friday.
Expectations that Aramco customers and allies around the world would take significant stakes in the company have so far not materialised, with the listing looking like it will be reliant on local retail and institutional investors...
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