Saudi Aramco is worth up to $1.7 trillion at the IPO price range set by the oil giant on Sunday, below the $2 trillion targeted by Saudi’s crown prince but still vying for the title of the world’s biggest IPO.
Saudi Aramco set a price range for its blockbuster listing that implies the oil giant is worth between $1.6 trillion and $1.7 trillion, below the $2 trillion Saudi Crown Prince Mohammed bin Salman previously targeted.
“No voice is louder than that of the Aramco IPO, the largest IPO on earth,” declared Ahmed Al-Arfaj, a Saudi Arabian TV talk show host, drumming up demand for what could be the world’s biggest initial public offering.
(Bloomberg) — Saudi stocks fell, reversing earlier gains, as investors digested the kingdom’s plan to sell a 1.5% stake in the state oil company.The Tadawul All Share Index dropped 0.4% as of 11:58 a.m. in Riyadh, after climbing as much as 0.4%. Telecommunications stocks led declines, while Al Rajhi Bank and Alinma Bank added the most to gains.Saudi Aramco, the world’s most profitable company, said in an updated prospectus on Sunday that it will offer shares in a range of 30 Saudi riyals to 32 Saudi riyals, for a valuation of as much as $1.71 trillion. Investors may now be …read more […]
Saudi Aramco has set a price range for its listing that implies the oil giant is worth between $1.6 trillion to $1.7 trillion, below the $2 trillion the Saudi crown prince had targeted but still making it potentially the world’s biggest IPO.
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(Bloomberg) — Saudi Arabia put a preliminary valuation on its state-owned oil giant Aramco of between $1.6 trillion and $1.71 trillion, short of the $2 trillion target set by Crown Prince Mohammed bin Salman in 2016.Aramco is seeking as much as $25.6 billion by selling a 1.5% stake. The company would raise $24 billion if the deal prices at the lower end — just shy of the $25 billion raised by Alibaba Group Holding Ltd. — currently the world’s largest IPO. With one third of the deal reserved for Saudi retail investors, Aramco will rely heavily on the local market.Price …read more […]
Saudi Aramco has set a price range for its listing that implies the oil giant is worth between $1.6 trillion to $1.7 trillion, below the $2 trillion that the Saudi crown prince had previously targeted, making it potentially the world’s biggest IPO.
Saudi Aramco does not plan to market its domestic initial public offering (IPO) in the United States, two sources familiar with the matter said.
(Bloomberg) — It’s the most nettlesome problem in the quest to ditch fossil fuels: how can you get thousand-degree heat used in factory furnaces without pumping billions of tons of greenhouse gases into the atmosphere?Heat-intensive processes like steelmaking and oil refineries are the starting point for production of everything from cars to life-saving medicines. But fueling their ultra-high temperatures requires burning coal, oil and natural gas. That makes industry responsible for about 20% of the carbon dioxide produced by humans and heating processes, and a bigger emitter than all cars and aircraft combined.Under mounting pressure from protesters and …read more […]
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