Saudi Arabian Oil Co.'s IPO will likely be delayed until 2019, the Financial Times reported March 11, citing British officials in contact with their Saudi counterparts.
The state energy company, which plans to sell a 5% stake, is looking for a US$2 trillion valuation. Bourses in London, New York and Hong Kong are contending for the share sale.
The IPO may take place in the first half of 2019, the publication reported, citing a source. As per British officials, the listings at home and abroad are likely to take place around the same time.
The company declined to comment on the matter. It was previously reported that the IPO will take place in 2018.
