Saudi Aramco plans to launch IPO on November 3

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      Saudi Aramco plans to launch an initial public offering on November 3, three people familiar with the matter told Reuters. Saudi Aramco delayed its listing earlier this month as trading advisers said they needed more time to identify cornerstone investors.
On the other hand, Farouk Bastaki, head of the sovereign wealth fund Kuwait Investment Authority (KIA), said Tuesday Saudi Aramco had not sought Kia's investment in the IPO.
Amin Nasser, Saudi Aramco's president and chief executive, is meeting investors overseas on Tuesday, sources said.
Saudi Aramco said in response to Reuters inquiry on Tuesday that the company "does not comment on rumors or speculation." The company keeps in touch with shareholders on IPO preparation activities. The company is ready to go public at a time to be determined by the market conditions and the shareholders. "


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