Why foreign investors questioned Aramco’s IPO valuation

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Why foreign investors questioned Aramco’s IPO valuation
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Alan Livsey, FT’s Lex research editor, analyses the lack of interest among overseas investors for oil group Saudi Aramco’s debut share sale. It cancelled marketing roadshows outside the Gulf for the listing, which could be the world’s biggest share sale. But rosy valuations have been lowered below $2tn target after potential shareholders

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