Saudi Aramco to sell small stake on Riyadh exchange

Saudi Aramco to sell small stake on Riyadh exchange

Saudi Aramco flotation values oil giant at $1.7tn

The highly anticipated sale of a sliver of the company has been generating global buzz because it could clock in as the world's biggest initial public offering, surpassing record holder Alibaba whose IPO raised US$21.8 billion on its first day of trading in 2014.

The company has published an updated prospectus for its initial public offering (IPO), seeking more than $25bn for the sale of 1.5% of its shares.

It put the price range of its stock up to 32 Saudi riyals, or $8.50. The roadshow is expected to move on to Europe this week.

With Saudi Arabia facing off with regional rival Iran, and leading a military coalition bogged down in a disastrous war in neighbouring Yemen, Aramco noted that political and social unrest in the region may affect its operations.

Sondland said he was acting on Trump's orders, aide told investigators
Sondland's involvement as "a problem". "That is very bad for our Country, and not what the Founders had in mind!" he wrote. She said in an addendum to her testimony that Zelenskiy skilled said the phrase "Burisma" within the get in contact with.

Among those considering a sizeable investment is Prince Al-Waleed bin Talal, a billionaire tycoon who was held in Riyadh's palatial Ritz-Carlton hotel in 2017 during a crackdown on corruption, Bloomberg News reported.

"The upper limit of the valuation - at $1.7 trillion - will allow for a minimum dividend of 4.4 percent; and this is very much comparable to global peers", Muneera Al-Dossary, chief executive officer of Riyadh-based Mulkia Investment Company told Al Arabiya English. It made $111 billion in profit in 2018, and has promised to pay an annual dividend of $75 billion through 2024.

"In the largest IPO in the Saudi market, we have not seen the current turnout of Saudi Aramco shares, taking into consideration that salaries have not yet come", she added. This would bring anywhere between $24 billion and 25.6 billion into its coffers, depending on the final price that is to be announced on December 5. He first proposed the IPO in 2016. A 1.5% stake in the company would be around 3 billion shares.

"This means most of the investors will participate as Qualified Foreign Investors in a Saudi transaction", another one of the people said.

Adam Schiff slams Donald Trump'charlatan' in speech to California Democrats
It's nearly as if Trump wanted to add an article of impeachment against himself. But Trump says he saw neither of these qualities when she was an ambassador.

Speaking in Riyadh on Sunday, Nasser acknowledged the prospect of peak demand, but argued that with the lowest production costs in the industry, Aramco would be able to win market share from less efficient producers. It will take place of Saudi Arabia's Tadawul exchange. Saudi Aramco beat American behemoths including Apple Inc. and Exxon Mobil Corp in terms of earnings. The funds raised will pay for infrastructure development and education, as well as for domestic and worldwide investments by the Public Investment Fund, the Saudi sovereign wealth fund that is an investor in the SoftBank Vision Fund.

Wall Street's biggest names are advising Saudi Arabia on the privatization, despite pressure from activists who say financing fossil fuel companies will worsen the climate crisis.

Aramco booked a $111.1 billion net profit in 2018, almost double Apple's.

Gims : ses confessions sur la Sexion D'Assaut !
Face à la situation, évidemment très compliquée, Gims et son épouse n'ont pas tardé à réagir sur leur compte Instagram respectif . L'interprète de Sapés comme jamais estime que ce dernier "met des bâtons dans les roues, pour ses intérêts perso ".

Latest News