Aramco Budges on $2 Trillion and Dangles Gifts, Too

(Bloomberg Opinion) — The initial sales pitch for Saudi Aramco, the world’s largest initial public offering, was pretty clear when it was launched on Sunday: This company can pay chunkier dividends for longer, and more reliably, than any other big oil company. The hope is clearly that investors will therefore pay a premium for the shares that carry those dividend promises. Whether they do should depend on their attitude to Aramco’s singular strategic profile and emerging-market risks.Saudi Arabia has finally kicked off the long-anticipated share sale, reportedly having accepted that the market may not ascribe the $2 trillion valuation Crown …read more

Source:: Yahoo Finance


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