Saudi Aramco raised $25.6 billion from the world’s biggest initial public offering, closing a deal that became synonymous with the kingdom’s controversial crown prince and his plans to reshape the nation.
But the deal ended up being very different from what the prince had envisaged when he first floated the idea in 2016 with an ambition to raise as much as $100 billion. Aramco offered just 1.5% of its shares and opted for a local listing after global investors balked at its hopes of valuing the company at $2 trillion.Instead, Aramco relied heavily on local investors and funds from neighboring monarchies. In the offering for individuals, almost 5 million people applied for shares.
The deal opens up one of the world’s most secretive companies, whose profits helped bankroll the kingdom and its ruling family for decades, to investors and Saudi individuals. Until this year, Aramco had never published financial statements or borrowed in international debt markets.It will also mean the company now has shareholders other than the Saudi government for the first time since it was nationalized in the late 1970s.
Oil is done for
INFLATED VALUATION sale at first sign of weakness imo! WSJmarkets ElFinanciero_Mx elEconomistaes TheEconomist guardiannews FortuneMagazine Forbes elonmusk JeffBezos carlosslim business HuffPost USMC USATODAY washingtonpost BillGates ParisMatch FT people
Johnson & Johnson medical device deal any better?
Biggest IPO meaning International Plot Organiser
good. i wish it were less.
Look at the murderer.
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Saudi Aramco prices shares at top of range in world's biggest IPO: sourcesDUBAI/RIYADH Reuters) - State-owned oil giant Saudi Aramco's initial public... FuckSaudi and fuck their IPO oil is super popular in third world countries buy buy buy JoeBiden This needs to be Trumpeted throughout the land. Trump sold US out and oil & gas fatcats will feel this one.
Source: Reuters - 🏆 2. / 97 Read more »
Aramco IPO has dug Saudi an even deeper holeThe oil giant’s oversubscribed $25.6 billion listing was supposed to bring in foreign cash to diversify the kingdom away from oil. In the process, it has loaded up local investors with overvalued stock. Saudis have in one sense wound up more leveraged to crude prices, not less. Reuters gfhay it proves the planet distrusts Saudi anything after they torture and kill reporters on whim? ReutersBiz gfhay This is a political opinion, rather than business analysis, contains a lot of inaccurate information?! gfhay Reuters has a serious problem with Saudi, all their reports are not neutral!!!
Source: Breakingviews - 🏆 470. / 51 Read more »
Saudi Aramco prices shares at top of range in world's biggest IPORIYADH/DUBAI Reuters - State-owned oil giant Saudi Aramco's initial public ... Most valuable company in the world! Inicient PPLS not benefit a few families got back by USA that's why so millions Yemen ppls suffering under USA weapons.sickness all levels
Source: Reuters - 🏆 2. / 97 Read more »
Saudi Aramco prices shares at the top of the range for record IPO, report saysThe shares have been priced at 32 riyals ($8.53), with a formal announcement expected later on Thursday. So surprising that they have been propping up the oil price this week ahead of the IPO..... Who the hell is going to buy those shares? Why Saudi Aramco need an IPO now? They want to fill up the bag one last time before electrification paco8922 Not a buyer for different reasons
Source: CNBC - 🏆 12. / 72 Read more »
Saudi Aramco raises $25.6 billion in the world's biggest IPOSaudi Arabia has just pulled off the biggest initial public offering in history, raising $25.6 billion by selling shares in its giant state-owned oil monopoly. What's the worth of NNPC again? Maybe they can afford their own troops and ours can come home? Sounds like an elaborate ponzi scheme
Source: CNN - 🏆 4. / 95 Read more »