The biggest market disappointment this week is yet another false start for Saudi Aramco, and we’re not sure how many more the market will tolerate. Yesterday morning, Riyadh was all set to go ahead with the IPO. By the end of the day, the plug was pulled once again, with delays set to run into weeks and months as Aramco belatedly decided to further examine vulnerabilities in the wake of the September 14 attack on its facilities. This will be a further negative mark on MBS’ reputation. The delay will drag on until Aramco releases its…
