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Trouble in the pipeline as Aramco shares take a bath; Coronavirus: focus on business and economics ; The kingdom's grand plans are unravelling as oil price fall means Saudis who invested in the IPO are hardest hit, finds Ed Clowes

Apr 06, 2020 - The Daily Telegraph (London)

In the run-up to Saudi Aramco's mammoth listing last year, Crown Prince Mohammed bin Salman was set on achieving a $2 trillion (£1.6 trillion) valuation. With international funds flinching at the price tag, the responsibility to please the prince fell on the shoulders of ordinary Saudis.

The kingdom needed to make it as easy, and attractive, as possible to participate in the initial public offering. And so discussions turned to the question of how much would banks be allowed to lend to re...