Saudi Aramco stock offering to launch November 17

10 Novembre, 2019, 20:38 | Auteur: Auguste Feret
  • Saudi Aramco unveils plans to kick off blockbuster float next week

The prospectus said up to 0.5% of the company would be set aside for retail savers, but Aramco had not yet decided on the percentage for larger institutional buyers.

Saudi Aramco is the kingdom's oil and gas producer, pumping more than 10 million barrels of crude oil a day, or some 10% of global demand.

Saudi state oil giant Aramco has revealed the date and the size of its long-anticipated initial public offering (IPO), which may become the largest in history.

Aramco is the world's most profitable company and previous year posted $111.1 billion in net profit.

Trading on Saudi Arabia's domestic exchange could begin as soon as December 11, according to state-linked media.

The valuation would be nearly twice that of Microsoft MSFT.N , now the world's most valuable listed company, and seven times that of Exxon Mobil Corp XOM.N , the biggest listed oil major by market capitalisation.

The IPO process will begin on November 17 and close on December 4. The offering, set to rank it as the world's most valuable company, will begin on November 17, the prospectus said.

A prospectus released from Saudi Aramco said selling shareholder will receive all of the proceeds of the offering and will reimburse Saudi Aramco for all fees, costs and expenses it incurs. The company reiterated plans to pay out an annual dividend of at least $75 billion starting in 2020 and signaled that increases as well as special dividends could follow over time.

Who will Tiger pick on Thursday for Presidents Cup?
Missing from the American team is Phil Mickelson, who had played in every Presidents Cup since the matches began in 1994. The Americans won in 2011 at Royal Melbourne with Woods - a captain's pick - delivering the winning point.

Warriors' Steph Curry 'unlikely' to return this season
Curry will be re-evaluated in three months, and Golden State may decide that it makes no sense to play it. They sit at 2-7 on the season, and teams around the league certainly won't show any sympathy for them.

Cambodian opposition leader turned away at Paris check
However, a THAI employee says Rainsy was not allowed to board the flight from Paris to Bangkok because his booking was not valid. The government in Phnom Penh said it would arrest him and has asked all regional neighbours to bar him from entering.

Crown Prince Mohammed bin Salman of Saudi Arabia is trying to raise billions of dollars through the venture by diversifying the Saudi economy away from oil and investing in non-energy industries.

The company said it has made a decision to sell up to 0.5 percent of its shares to individual investors while it will decide on the percentage for larger investors later.

However, crude prices remain about $20 a barrel lower than what the government wants.

While Japan is snubbing Aramco's IPO, another big Asian buyer of Saudi crude, China, could be the one to invest in the listing and help ensure it is a success.

An attack on two key Aramco processing sites in September, which Saudi Arabia has blamed on its regional foe Iran, highlighted how the company's stability and security is directly linked to that of its owners - the Saudi government and its ruling family.

RESULTS AND CASHFLOW - The company noted that its results and cashflow are significantly impacted by global crude oil supply and demand. The kingdom has slashed Aramco's production when it's sought to boost oil prices.

The prospectus also laid out the main risks in the investment, including terrorism and operational instability.

Conseillé:

  • Bala Box Office Day 2: Ayushmann Khurrana’s Film Grows HUGE On Saturday

    Bala Box Office Day 2: Ayushmann Khurrana’s Film Grows HUGE On Saturday

    Ayushmann Khurrana's new film Bala has recorded an "excellent" opening day collection, tweeted trade analyst Taran Adarsh. Film critics believe that if film Bala continues at its current pace, Khurrana could be looking at his next blockbuster.
    Benjamin Schreiber Says He Served Life Sentence By Temporarily Dying

    Benjamin Schreiber Says He Served Life Sentence By Temporarily Dying

    Shortly before Terry's murder, he, Schreiber, and another woman named Evelyn Tangie had been traveling in a vehicle together. Benjamin Schreiber , 66, was sentenced to life without parole in Iowa for bludgeoning a man to death in 1996.
    NHL-leading Capitals beat Knights for 6th consecutive win

    NHL-leading Capitals beat Knights for 6th consecutive win

    Vegas is tied for ninth in the league with the man advantage as they convert 21.7 percent of their power play chances this season. Bertuzzi and Dennis Cholowski assisted on the marker: Detroit gave up a goal later in the period to make it a one-goal game.
  • Le chanteur Pete Doherty interpellé pour transaction de cocaïne — Paris

    Le chanteur Pete Doherty interpellé pour transaction de cocaïne — Paris

    Selon des sources de police, des passants et des riverains ont reconnu le chanteur anglais et ont filmé la séquence. Et d'après les premiers constats, la substance en question serait de la cocaïne.
    Messi equals Ronaldo's record for LaLiga hat-tricks

    Messi equals Ronaldo's record for LaLiga hat-tricks

    The resulting kick was converted by Lionel Messi as Barcelona won comfortably at Camp Nou. Real Madrid's convincing 4-0 win at Eibar earlier on Saturday had kept up the pressure.

    Windows Mobile aurait pu battre Android — Bill Gates

    Et d'enfoncer le clou en suggérant que le géant américain "aurait été plus concentré sur la création du système d'exploitation". On a longtemps cherché des explications à l'échec de la firme de Redmond sur le marché des smartphones.
  • Lions' Stafford (back/hip) won't play vs. Bears

    Lions' Stafford (back/hip) won't play vs. Bears

    That's the second-longest active streak by a QB in the National Football League behind Phillip Rivers. He was limited all week, but publicly there did not seem to be concern. "No, I'm fine.
    Fans injured in stampede at Scott’s music fest venue

    Fans injured in stampede at Scott’s music fest venue

    The official Astroworld account later shared an image of a packed crowd inside captioned "REAL RAGERS". His Instagram post included the message "be safe rage hard".
    Dion Waiters reportedly overdosed on 'gummies,' had seizure on team plane

    Dion Waiters reportedly overdosed on 'gummies,' had seizure on team plane

    Beyond that, there are just questions, ones the Heat have yet to address. There is not going to be a lot of demand for his services right now.
  • Bill Murray Reprises His Iconic Role for ‘Ghostbusters 2020’

    Bill Murray Reprises His Iconic Role for ‘Ghostbusters 2020’

    Among the new generation of " Ghostbusters " stars are Paul Rudd , Carrie Coon, Logan Kim, McKenna Grace and Finn Wolfhard. This is a new movie about a new set of characters, it takes place in a new place, a new location.
    Buzz : Kyle Walker obligé de jouer les gardiens contre Bergame

    Buzz : Kyle Walker obligé de jouer les gardiens contre Bergame

    Car l'Atalanta a très mal géré sa supériorité numérique alors que City a tout fait pour empêcher les Italiens de tirer. Pendant 45 minutes, on n'a vu que les Anglais et leur discutable maillot couleur Tequila Sunrise.

    Brace Yourselves: Trump's Releasing Another Call Transcript

    Ambassador to Ukraine Bill Taylor and career department official George Kent are to testify Wednesday, and former U.S. The White House already has released a transcript of their July 25 phone conversation, in which Democrats allege Mr.


Populaire

Mitch Trubisky Wants Halas Hall TVs Off To Shield Criticism
If Chicago is lucky, its impressively disgusting output in the first half of last week's loss to the Eagles will be the low point. But they don't really know who we are, or what we're capable of as people, or what we're going through, or what we're thinking.

Inside Malaika Arora And Arbaaz Khan's Son Arhaan's Birthday Party. See Pics
Mumbai: Ex-couple Malaika Arora and Arbaaz Khan were spotted together for their dearest son Arhaan Khan's 17th birthday . Birthday boy Arhaan Khan opted for a grey t-shirt and a pair of distressed denims for his birthday.

Police nab professor carrying woman’s body parts in backpack
Oleg Sokolov, 63, was trying to dispose of the severed body parts of his girlfriend when he slipped and fell into the Moika. Sokolov was hospitalized on Saturday for hypothermia but on Sunday was taken to a police station for questioning.

Trade deal doubts clip world stock rally, oil falls
At 1150 GMT, Brent crude was down 1.7% at $61.21 a barrel, while US West Texas Intermediate crude also tumbled 1.7%, to $56.19. In the offshore market, the yuan traded at 6.9834 per dollar, close to a three-month high it jumped to on Thursday.

Iran says oil field found with 53 billion barrels of crude oil
The 80-metre deep field stretches almost 200 kilometres from Khuzestan's border with Iraq to the city of Omidiyeh, Rouhani added. Iranian workers have found an oil field with 53 billion barrels of reserves", Rouhani said in a televised speech on Sunday.

Kentucky's governor election could serve as preview of West Virginia race
Beshear - the son of Kentucky's last Democratic governor, Steve Beshear -named his top deputy in the attorney general's office, J. Just last weekend Vice President Pence and former Vice President Joe Biden held events in the state for their respective parties.

UNC vs. Notre Dame - Participant of the Activity: Cole Anthony
Anthony broke a 17-year-old freshman scoring record against Notre Dame, notching 34 points in his first collegiate game. The Tar Heels shot just 31% and located on their own down by 1 to Notre Dame heading into halftime.

Marvel says Disney+ subscription needed ‘to understand’ future MCU movies
According to Disney , the streaming service will be available here on March 31, 2020. Shows like Agents of SHIELD referenced events and characters from the movies.

Alibaba Eyes $15 bn listing in potential Hong Kong IPO
Major investment banks, led by Morgan Stanley and Goldman Sachs, are jockeying for the most senior positions behind those two. Alibaba's bookbuilding and listing is expected to take pack in the week beginning on November 25, according to the sources.

Facebook's 'Catalogs' on WhatsApp will allow businesses to showcase their products
They will be launching this feature in countries like Brazil, Germany, India, Indonesia, Mexico, the United Kingdom and the US. There are options to add multiple images, product or service name, price, description, link, and product or service code.