DUBAI - Saudi Arabia’s state oil company kick-started its initial public offering on Sunday, announcing its intention to list on the domestic bourse as the kingdom seeks to diversify and create the world’s most valuable listed company.
Confirmation of the share sale in Saudi Arabian Oil Co, or Aramco, as the oil giant is usually known, comes about seven weeks after crippling attacks on its oil facilities, underlining Saudi Arabia’s determination to push on with the listing regardless. Aramco said the Saudi market regulator, which approved its application to list on Sunday, had issued an exemption for non-resident institutional foreign investors to subscribe.The listing announcement had been expected on Oct. 20 but was delayed after advisers said they needed more time to lock in cornerstone investors, three sources told Reuters.
But a 1% sale would ‘only’ raise around $15 billion for Saudi coffers, less than the $25 billion generated by Chinese e-commerce giant Alibaba in its record-breaking IPO in 2014.A sale of 2% of Aramco shares at a $1.5 trillion valuation would make it the biggest IPO of all time, beating Alibaba’s. IPO preparations were revived over the summer after Aramco attracted huge interest in its first international bond sale, seen as a pre-IPO relationship-building exercise with investors.
Conspiracy
This Is Great, The Saudis Breaking Away From Rfeller & Other Oil Dip Shit Cabal, The Plan To Save The World, &End Of Fiot Currency. Buy US Mint, Will Be Only Value For Purchaces Along With Cripto.
Dying industry
Pay attention to who is going to buy. Remember sale of 19,5% of Russian Rosneft shortly before Trump's election? Part of that sale is suspicious. I wouldn't be surprised if Trump companies get share of Saudi Arabian oil company as commission for Trump brokering USA-army help
Plz dont buy this ipo if it goes on the market its the saudi royal family that will get all the money while the poor saudi citizen gets nothing. Despite what ppl think half population in SA dont own a home and live month to month
Diverse income before Elon Musk and other electric car manufacturers dent the oil industry.
When do we shut down Saudi? SaudCorruption
Second Commercial for Aramco today
IPO of the century!!!! Aramco up for grabs.
Where's Iran when you need them?
...and how much is Kushner making out of this?
So the Saudis cash out. Interesting
The protests in Hong Kong are not “Pro-Democracy”, they are violent rioters that will beat up police and ordinary residents . Free HongKong from these violent rioters and return Hong Kong to pre-June-2019 where everywhere are peaceful！
SundayFeeling SundayMotivation SundayWisdom SundayThoughts WOW! Great news. As an aspiring millionaire, I’m very interested in this initial public offering.
Makes no sense why they wanna list it. Is it just greed?
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: cnnbrk - 🏆 393. / 55 Read more »