The Two-Trillion Bubble: What Aramco IPO reveals about MBS’s 2030 Vision
The disconnect between Saudi imperatives and the expectations of Western governments and financial markets who repeatedly focussed on unmet Saudi time indications of the Aramco IPO rather than broader policy statements fit a pattern of misperceptions.
Tuesday, 18 September 2018 08:26 GMT
A Saudi decision to indefinitely delay an initial public offering (IPO) of five percent of the Saudi Arabian Oil Company or Aramco, the Saudi state-owned oil company, has further dented investor confidence and fuelled debate about Crown Prince Mohammed bin Salman’s ability to push economic reform. It has even prompted speculation that his assertive policies, including the Kingdom’s ill-fated military intervention in Yemen, harsh response to Canadian human rights criticism and failed Saudi-United Arab Emirates-led diplomatic and economic boycott of Qatar, could dampen his prospects of eventually ascending the throne.