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WSJ: Saudi Aramco IPO could be scuttled

Saudi and Foreign investors stand in front of the logo of Saudi state oil giant Aramco. Photo: FAYEZ NURELDINE/AFP/Getty Images

The massive IPO of Saudi state oil giant Aramco may never happen at all, the Wall Street Journal reports.

Why it matters: Saudi officials had hoped to raise tens of billions of dollars to help fund the kingdom's economic diversification by going public with a small piece of the company.