Saudi Aramco won’t market IPO in U.S.: sources

As per two sources familiar with the matter at hand, Saudi Aramco does not plan to market its domestic initial public offering (IPO) in the United States.

Earlier this month, in its IPO prospectus, Aramco had said the offering of shares would rely on the 144A rule of the U.S. Securities Act, which allows a non-U.S. issuer to tap the U.S. market.

According to sources, Aramco will no longer rely on that rule: it will not market its shares in the United States.

Aramco did not immediately respond to a comment request.

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