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Saudi Aramco will not market IPO in the United States: sources

Added 11-17-19 02:03:02am EST - “Saudi Aramco does not plan to market its domestic initial public offering (IPO) ...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Saudi Aramco will not market IPO in the United States: sources”. Below is an excerpt from the article.

DUBAI (Reuters) - Saudi Aramco does not plan to market its domestic initial public offering (IPO) in the United States, two sources familiar with the matter said.

Aramco had said in its IPO prospectus earlier this month that 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.

The sources said Aramco will no longer rely on that rule, meaning it will not market the shares in the United States.

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