Saudi Aramco Pulls Planned IPO as Eventbrite Files for Their Own IPO

​Last week, a single U.S. company, BioNano Genomics, made its initial public offerings on U.S. exchanges, raisig a total of $20.6 million in capital in the process. Despite seeing only a single debut share offering last week, capital markets still had some noteworthy news. Saudi Aramco officially called off its IPO hopes and Eventbrite filed for its IPO later this year with the SEC.

• Saudi Aramco, Saudi Arabia’s largest state-run oil company has officially halted plans for an IPO, disbanding its advisory group. The company initially intended to list and raise money for the government during a budget crisis as oil prices fell sharply in 2014 and 2015. Recently, however, energy prices have rebounded significantly and the oil-dependent nation no longer has the need for an alternative capital source. The Kingdom was hoping to use funding to balance its budget and diversify its economy away from fuels.

• Biotech instrument maker Bionano Genomics debuted its shares on the NASDAQ exchange last Tuesday, raising $20.6 million in the process. Bionano designs and manufacturers propietary software and instrumentation for nano-scale imaging and analytics.
  

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• Eventbrite, a Silicon Valley-based provider of event management and ticketing software, has filed for a U.S. IPO. Founded in 2006 by a husband-and-wife team, Eventbrite is used by organizers to publicize and manage their events, often times through third-party distributors such as Facebook and Spotify.