Houston Chronicle Saudi Aramco shares jumped for a second day, with the oil giant’s value hitting the $2 trillion mark that alienated global investors and potentially making further share sales abroad more difficult. The stock climbed by the daily 10% limit to 38.7 riyals at the open in Riyadh before trimming gains. It was up 5.8% at 37.20 riyals at
Reuters LONDON/RIYADH – Saudi Aramco is looking to buy insurance against war and terror attacks after a damaging drone and missile attack on some of its oil facilities in September, two sources told Reuters. Aramco, the world’s largest oil company, has been looking for cover from insurers including those based at Lloyd’s of London and elsewhere in the London market,
Reuters: DUBAI/LONDON/MOSCOW – OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with the talks said. The deal being discussed by the Organization of the
Reuters DUBAI/ABU DHABI – Saudi Arabia’s wealthy Gulf neighbors plan to invest in the initial public offering (IPO) of Saudi Aramco, sources familiar with the matter said, helping out Riyadh as it strives to raise $25.6 billion from a domestic listing of the state oil giant. Aramco has struggled to secure an anchor investor for the listing and found little
Reuters RIYADH – Retail subscription for Saudi Aramco’s initial public offering (IPO) reached 21.77 billion Saudi riyals ($5.8 billion) on Monday, lead manager Samba Capital said. The retail element of the sale so far amounts to a total of 680,254,540 shares, Samba Capital said in a statement. The last day of subscription for the retail tranche of the share
Reuters KUALA LUMPUR/LONDON – With Saudi Aramco yet to name any major foreign investors in its upcoming share sale, Malaysia’s state energy company Petronas (PETR.UL) decided to take a pass on Friday. Expectations that Aramco customers and allies around the world would take significant stakes in the company have so far not materialized, with the listing looking like it will
Houston Chronicle Saudi Aramco’s bankers are seeing sufficient early demand to pull off the state oil giant’s initial public offering just three days after launching the deal, people with knowledge of the matter said. The IPO arrangers are indicating in private discussions that they already have nearly enough orders to cover the institutional portion of the deal, the people said,
Reuters DUBAI/LONDON – After battling it out for a role in a giant IPO that promised to make history, and enduring delay after delay, investment banks advising Saudi Aramco are set to be rewarded with relatively slim pickings. The 25 banks working on the listing will earn combined fees of $90 million or less, according to three sources involved in
Saudi Arabia formally started its long-anticipated initial public offering of its state-run oil giant Saudi Aramco on Sunday, which will see a sliver of the firm offered on a local stock exchange in hopes of raising billions of dollars for the kingdom. An announcement from the kingdom’s Capital Market Authority serves as a starting gun for an IPO promised by
S&P Global Platts The initial public offering of Saudi Aramco — the company that is preparing to sell up to a 5% stake — will happen soon, the country’s energy minister said on Wednesday. The Aramco IPO is “going to come soon. It will come at the right time with the right approach and definitely with the right decision, and
Source: Reuters RIYADH (Reuters) – What a difference a year makes. There was standing room only in the expansive halls of Riyadh’s Ritz-Carlton hotel on Tuesday as the world’s financial royalty attended Saudi Arabia’s Future Investment Initiative (FII) conference, aimed at courting global investors. Saudi Arabia said it signed over two dozen investment deals worth $15 billion, mostly in the
Source: Reuters DUBAI/RIYADH (Reuters) – Oil giant Saudi Aramco’s much-vaunted stock market listing was delayed after deal advisers said they need more time to lock in cornerstone investors, three sources with direct knowledge of the matter told Reuters. After a false start last year, preparations gathered momentum this summer with approaches to sovereign wealth funds, rich Saudis and large foreign
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