Oil giant becomes world's first $2 trillion company in history

Saudi Aramco shares zoomed higher on Thursday, turning the massive state oil producer into the world's first $USD 2 trillion company and achieving the valuation long sought by Crown Prince Mohammed bin Salman.

Saudi Aramco has gained roughly $300 billion in value since its shares debuted on the Riyadh stock exchange on Monday in the biggest initial public offering on record. It's by far the most valuable company in the world, dwarfing runner up Apple, which is worth around $1.2 trillion. The vast majority of buyers for the stock are in Saudi Arabia. Samba Capital, which managed the IPO, said Tuesday that 97 per cent of retail investors who received shares were from the country. And more than 75 per cent of shares sold to institutional investors went to Saudi companies, funds and government institutions.

Analysts at Bernstein Research said Thursday that the $2 trillion valuation was "too much, too soon" given weak expected earnings growth and little upside for global oil prices. The company looks expensive, they said, compared to peers such as Exxon and Royal Dutch Shell.

No wonder. Even when a sparrow farts in the direction of an oil base or tanker the pump prices rise by 25+ %. Ridiculous, but the Government doesn't care, and ACCC won't act, as there simply is too much $$$ in revenue.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Move aside Apple, you're not the world's most valuable company anymoreSaudi Arabian oil company Aramco surpassed the iPhone maker as the world's most valuable public company on Wednesday when its shares made their debut on the Saudi stock exchange.
Sumber: smh - 🏆 6. / 80 Baca lebih lajut »

How 710 companies got away with not paying a single cent in taxATO data shows about one-third of large companies have once again failed to pay a cent of tax. You need to stop this properganda, in true capitalism noone pays tax. Stop being a tool for government. Just post the link of Kerry Packer, Parlimentary Enquiry, Nov 1991. You could have saved yourself a whole heap of words. The End.
Sumber: abcnews - 🏆 5. / 83 Baca lebih lajut »

Cruise company offers one-day refund after deadly volcano tragedyFamilies onboard a cruise ship at the centre of the deadly White Island volcano eruption have received hundreds of dollars worth of refunds in the form of expenses credited to their account Classic cruise lines.....refund in the form of onboard credit. Once you give them money, you’re not getting it back.
Sumber: smh - 🏆 6. / 80 Baca lebih lajut »