Saudi Arabian state-owned oil giant Aramco could scrap plans to go public amid legal risks, the Wall Street Journal reported. According to an unnamed senior executive, "everyone is almost certain it is not going to happen." In May, Saudi Arabia's Energy Minister Khaled al-Falih said the IPO will "most likely" be postponed to 2019, after initially aiming for the second half of this year.
According to the report, Saudi officials fear lawsuits from shareholders, among other potential issues. "Listing on a large stock exchange in New York, London or Hong Kong would carry too many legal risks," they told the WSJ.
