RIYADH: From tapping lenders to selling personal assets, Saudis are scrambling to raise cash to invest in Aramco stocks after the oil giant announced its blockbuster market debut even as it offered few listing details.
"People look at it as a sound investment. I'm aware that it is a long-term investment that is good to have in a portfolio and not some kind of lottery ticket." Saudi Arabia has sought to ease lending restrictions for ordinary citizens to buy a stake in the company, a strategy deemed risky by observers.
In a 21-page document released by the company, the company called the IPO a"unique investment proposition". There are also reports the firm is struggling to get institutional investors on board amid a bearish outlook for the energy sector and questions over the company's transparency and governance.
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