Saudi Arabia, with the world’s leading Oil company Aramco, the largest IPO of all time. After several delays, the state group received on Sunday, the permit for around three years, target speed on the floor.
With the approval by the financial market authority CMA of the Kingdom, a part of the Aramco can be traded shares in the Saudi Arabian stock exchange, Tadawul. A specific timetable for the IPO has not yet been called, and also the volume of emissions is so far open. Experts suggest that the trading of the bonds is to be launched in December.
With the hoped-for billions in revenue, they want to bring to Saudi Arabia the reconstruction of its economy and independent from the Oil and gas business will be. Is expected to be one of the largest IPOs of all time.
Saudi Aramco is the world’s largest oil-producing company and is considered to be one of the most profitable corporations ever. The plans for the stock have been stopped in the past few years, or moved.
hope to more than two trillion
estimates of The total amount of the IPO are far apart – but Aramco could be one of the most valuable stock company in the world. Crown Prince Muhammad bin Salman , the de facto ruler of the Kingdom, had hoped for a valuation of the company of more than two trillion dollars. Analysts, in contrast, more than 1.5 trillion dollars.
but That would be still significantly more than the value of U.S. high-tech giant. Microsoft, for example, had become obsolete months ago, with a stock market value over the magic mark of one Billion dollars to Apple and Amazon as the most valuable public companies. The stock price of Apple had exceeded in the past year, also the magical limit temporarily, after which it was briefly the world’s largest online managed retailer Amazon.
record rate
a sale of one percent of the shares at a low valuation could attract Aramco 15 billion dollars, a sale of two per cent at a higher valuation, however, already 40 billion. Thus, Aramco would break the record for the largest IPO since 2014, the Chinese trading platform Alibaba, with a revenue of 25 billion Dollar.
Mr over oil billions Yasser bin Othman al-Rumayyan, the Confidant of the Saudi crown Prince, to bring the state Oil company to the stock exchange.
A schedule for the further steps of the IPO has not been called on Sunday. Most recently, the Saudi Arabia-financed news channel al-Arabiya had reported, citing insiders, that the first day of trading on the Tadawul stock exchange the 11. December should be. The transmitter according to the prospectus on 10 to. November will be published.
The IPO of the oil giants is a Central part of Bin Salman’s large-scale reconstruction of the Saudi economy. The “Vision 2030”, this Plan pursues the goal of Islam-to make the arch-conservative country independent from Oil. Originally, the stock exchange should be in gear as soon as 2017, but was repeatedly postponed. The revenue is to be invested in new sectors of the economy.
111.1 billion Dollar profit
last year, Aramco generated a profit of 111.1 billion dollars. The big Oil companies – Chevron and ExxonMobil from the United States, BP from great Britain, the British-Dutch company Royal Dutch Shell and Total of France to 2018, the combined profit of around 80 billion dollars.
Even Apple, which has traditionally been considered the most profitable companies in the world, earning nearly 60 billion dollars significantly less. In the first half of 2019, the Aramco was net profit of 46.9 billion dollars, which is about twelve per cent less within a year – due in part to lower Oil prices. However, Saudi Aramco is still the most profitable company in the world.
drone attacks
The Oil industry of Saudi Arabia in September of several drone attacks has been met. Among other things, the largest oil Refinery of the country was taken in Abkaik and the production amount has been reduced to about half of the usual volume.
According to Opec data a broke is the production of around 9.8 million barrels (159 litres) to around 5.7 million barrels per day. The Oil prices did not rise as abruptly as in decades.
The Supply of oil reached according to the data from Riyadh, but soon returned to the level before the attacks, the plans for the IPO were not affected Aramco, according to. To had known the attacks by the Shia Houthi rebels from neighboring Yemen. US Secretary of state Mike Pompeo blamed Iran directly for the attacks, responsible. (nag/sda)
Created: 03.11.2019, 20:33 PM
