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Bloomberg reports: Saudi Aramco launches IPO

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Bloomberg reports: Saudi Aramco launches IPO
October 11
09:00 2019

Saudi Aramco is on everyone’s lips; we mean those who are even slightly interested in the energy market. The authoritative agency Bloomberg has reported that the board of directors of the main oil company in Saudi Arabia will start the process of preparing for an initial public offering in about a week.

There is the information that a meeting of the board of directors of the state company with IPO experts will take place next Thursday. If analysts’ conclusions are positive, we will be able to observe the official launch of the initial public offering process on October 20. If the response of potential investors is weak, then the IPO may be delayed.

Saudi Aramco will place approximately 2% of its shares in open markets. The cost of each of them will be calculated on the assumption that the company is estimated at $ 2 trillion. Many analysts believe that the price is too high, so the future IPO may not attract investors.

In total, the official Riyadh plans to sell about 5% of the company’s shares, placing them both on the local and foreign exchanges.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

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