(Bloomberg) -- Saudi Aramco canceled the London leg of its initial public offering roadshow, scheduled for Wednesday, according to people familiar with the situation, who asked not be named because it wasn't a public event.
It's the latest sign that the giant Saudi oil company has scaled back the international ambitions for the IPO because of lackluster demand from money managers. The company had already decided not to market the share sale in the U.S., Canada or Japan.
The deal will now mainly rely on rich Saudi families and other local investors.
To contact the reporters on this story: Jack Farchy in London at jfarchy@bloomberg.net;Swetha Gopinath in London at sgopinath12@bloomberg.net
To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net
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