EDITION: US | UK | Canada
Thecapitalpost.com - Breaking, International, Business, Sports, Entertainment, Technology and Video NewsThecapitalpost.com - Breaking, International, Business, Sports, Entertainment, Technology and Video News
Sign In|Sign Up
 
 
Bridging The Gap
Saudi Aramco IPO: World's most profitable company to go public
  Sunday 03 November, 2019
Saudi Aramco IPO: World\'s most profitable company to go public

Saudi Aramco has confirmed it is planning to list on the Riyadh stock exchange, in what could be the world's biggest initial public offering (IPO).

The state-owned oil giant will determine the IPO launch price after registering interest from investors.

Business sources say the Saudis are expected to make shares available for 1% or 2% of the firm, and the offer will be for existing company shares.

Saudi Aramco is thought to be worth about $1.2tn (£927bn).
'Historic'

The firm said it has no current plans for a foreign share listing, saying long-discussed plans for a two-stage IPO including an offering on a foreign exchange had been put aside for now.

"For the (international) listing part, we will let you know in due course. So far it's only on Tadawul," Aramco chair Yasir al-Rumayyan told a media conference, referring to the Saudi stock exchange.

Saudi Aramco flotation 'coming soon'

Saudi Arabia denies calling off Aramco float

Saudi Arabia to open up to foreign tourists

Chris Beauchamp, chief market analyst at derivatives traders IG Group, said: "Investing in Aramco carries risks, of course, and not only that oil prices will struggle to move higher.

"Political and strategic risks are high for any firm operating in the region, not least one which is an arm of the Saudi state. Aramco also has limited control in output policy, a key part of Saudi Arabia's Opec management."

Source: https://www.bbc.com/news/business-50070823

Bookmark and Share
 
Post Your Comments:
Name :
*
City / State:
*
Email address:
*
Type your comments:
*
Enter Security Code:   


 Latest News »
 
  WHO rethinking how Covid-19 sp...
  Trump has officially begun to ...
  Trump ‘Salute to America’ Feat...
  Tulsa mayor lifts curfew ahead...
  Trump stirs anger with plans f...
  White House was locked down as...
  Trump to order US flags lowere...
  Trump threatens to permanently...
  Dr. Anthony Fauci to testify t...
  Trump heads to Arizona for mos...
  Trump orders meatpacking plant...
  Outcry after Trump suggests in...
  Trump's new guidelines for sta...
  Trump says peak is passed and ...
  rump's claim about presidentia...
  Trump cracks down on nations h...
  Trump hasn't ordered any venti...
  Trump announces U.S.-Mexico bo...
  Trump calls for pumping $1 tri...
  Trump clarifies comments on Eu...
 

Washington, DC

  ©2010 The Capital Post. All rights reserved.