Web
Analytics
The news is by your side.

Saudi Aramco

Saudi king tipped the scale against Aramco IPO plans

LONDON: The king spoke and a $2-trillion dream went up in smoke. For the past two years, Saudi Arabia has prepared to place up to 5 percent of its national oil company on the stock market. Officials talked up the Saudi Aramco initial public offering (IPO) with international exchanges, global banks, and US President Donald Trump. The planned listing was to be the cornerstone of the kingdom’s promised economic overhaul and, at a targeted $100 billion, the biggest IPO ever. It was the brainchild of 32-year-old Crown Prince…

Saudi Aramco international listing looks increasingly difficult: sources

DUBAI/LONDON: Saudi Arabia is increasingly looking to just float oil giant Saudi Aramco locally as plans for an initial public offering (IPO) on an international exchange such as London or New York hang in the balance, sources close to the process said. The kingdom is counting on being awarded emerging market status by index complier MSCI in June to help Saudi Aramco attract Western funds, in addition to cornerstone investors from China, Japan and South Korea, the sources said. “I would guess it is about evens that…

Russian fund builds investors pool for Saudi Aramco IPO

MOSCOW: The Russian Direct Investment Fund (RDIF) has pledged to set up a “significant” pool of investors for the potential $100 billion(71.06 billion pounds) initial public offering (IPO) by Saudi Arabian state oil major Aramco, it said on Thursday. The sovereign wealth fund’s head, Kirill Dmitriev, who has previously said that Russian pension funds were considering participation in the Saudi Aramco IPO, said he expects widespread interest from the Russian financial sector. Agencies adds: “We see a great interest from…

Saudi Aramco signs energy deals worth nearly $4.5 bln

RIYADH: Saudi Aramco has signed agreements worth nearly $4.5 billion with multinational oil and gas contractors, in what the company dubbed as an effort to diversify the economy. The deals were signed with companies including Spain's Tecnicas Reunidas, Italy's Saipem, China Petroleum Pipeline and Abu Dhabi's National Petroleum Construction. The investments "reflect our concerted effort... to diversify our economy, promote local manufacturing, support a sustainable environment and strengthen our business and investment…