Saudi Arabia denied that it had called off an initial public offering of state oil company Aramco, according to a CNBC report Wednesday night, but suggested that plans may be on hold. "The Government remains committed to the IPO of Saudi Aramco at a time of its own choosing when conditions are optimum," Saudi Energy Minister and Aramco Chairman Khalid al-Falih said in a statement, according to CNBC. "This timing will depend on multiple factors, including favorable market conditions, and a downstream acquisition which the Company will pursue in the next few months." Earlier in the day, Reuters reported that the IPO -- expected to be the world's largest, raising about $100 billion -- had been canceled.
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