>> The oil giant, Saudi Aramco's initial public offering is likely to be delayed until next year. That's according to the Financial Times newspaper. British officials were informed of the news by their Saudi counterparts. Who said London still has a good chance of securing the listing, which would value the company at $2 trillion.
But that might not happen until 2019 at the earliest as advisors reportedly struggle to achieve the valuation that the Saudi Crown Prince is after. London, New York and Hong Kong have long been tussling for the partial listing of the state-owned oil company. Saudi Arabia wants to sell 5% of Aramco as part of an economic reform program driven by Crown Prince Mohammed Bin Salman, who visited the UK last week.
And a post-Brexit Britain has all to play for as it's likely to be the world's biggest IPO.