Riyadh – Mubasher: Saudi Aramco has reportedly postponed planned initial public offering until the posting of the company’s result for the third quarter of 2019, informed sources told Reuters.

The sources added that no new date was set for the launch of the IPO, the international news agency reported.

“The company continues to engage with the shareholders on IPO readiness activities. The company is ready and timing will depend on market conditions and be at a time of the shareholders’ choosing,” Aramco said in a statement to Reuters.

Last month, Saudi Aramco hired UBS Group and Deutsche banks as bookrunners for its IPO.