Riyadh – Mubasher: Saudi Arabia is not yet ready for the launch of Saudi Aramco’s initial public offering (IPO).

The potential IPO is expected to raise $100 billion and put the state-run company under major scrutiny, according to the Wall Street Journal.

Officials at Aramco stated that the mega step would not be taken soon, others said that listing the company’s shares in New York, London, or Hong Kong would bear various legal risks.

The Saudis have an alternative plan, namely to list a small stake in Aramco in the local stock exchange, Tadawul, the American newspaper reported.

Aramco’s spokesman and other ministerial officials declined to comment on the matter.