Aramco meets investors in last-minute bid to hit $2 trillion IPO target

DUBAI: Saudi Aramco officials and advisers are holding last-minute meetings with investors in an attempt to achieve as close to a $2 trillion valuation as possible ahead of an expected listing launch on Sunday, according to three sources.

Failure to reach the coveted target would cause a dilemma for Saudi Crown Prince Mohammed bin Salman – swallow the bitter pill of going ahead at a lower valuation or postpone the initial public offering (IPO) once again.

The Aramco officials and advisers are meeting institutional investors around the world, said the three people familiar with the matter. Chief executive Amin Nasser has been meeting investors in New York and London this week, they added.