Saudi Arabia's first public offering was supposed to be the biggest ever, but the Saudi authorities decided to shelve the IPO. Bankers and investors pointed out that it was a big blow to the credibility of Saudi Crown Prince Mohammed bin Salman, but there were other ways he could raise money to strengthen economic reform.
Photo Gallery: March 27, 2018, Saudi Arabia's crown prince Mohamed is in United Nations Headquarters, New York. REUTERS/Amir Levy
Crown Prince Mohammed plans to raise $100 billion to invest beyond oil to reduce the Saudi economy's dependence on the oil industry, with Saudi Arabia and the United States releasing 5% equity financing as the core of his plan.
Mohammed also proclaimed that Saudi Arabia and the United States listed on the international stock market will help to open up the Saudi open culture and enhance the attractiveness of foreign investors.
Mohammed's decision to shelve the Saudi Ami IPO, which brought momentum to the top of the privilege when he announced his Vision 2030 plan in 2016, has led to questions about the management of the entire process and broader reform plans, and has also weakened the momentum for reform.

<>Saudi Amy IPO was shelved

 

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