Saudi Aramco employs 65,000 people and has long had a high degree of independence from Saudi Arabia’s monarchs. But now the connections between the country and the company that funds it are being scrutinized like never before, the Financial Times reports.
"There are wildly different prognostications about how successful an IPO will be. But the Saudis don't have a choice but to get it right. There is an urgent push to diversity their one-trick economy," said energy studies fellow Jim Krane. “Anyone who wants in on this [IPO] knows that being subject to Saudi policymaking is part of the deal.”
The Financial Times (subscription required): http://on.ft.com/1NCnYgT.
Jan 23 2021 | Cybersecurity
John W. Diamond , George Zodrow
Jan 22 2021 | Center for Public Finance