Posted on 05/09/2016 2:57:12 PM PDT by bananaman22
Saudi Arabia revealed more details about its planned initial public offering of the state-owned oil company Saudi Aramco. As part of Deputy Crown Prince Mohammed bin Salman’s vision to diversify the Saudi economy over the next decade and a half, the IPO of Aramco could raise cash while also making the company more transparent.
The Telegraph reported that Saudi Aramco plans a three-way listing, with shares listed in London, New York, and Hong Kong. Also, Aramco hopes to convince some of the oil majors, including ExxonMobil, BP and China’s Sinopec, into taking “strategic stakes” in Aramco, “offering them long-term access to upstream operations in return for cutting-edge technology or refinery deals,” a Saudi source told The Telegraph.
(Excerpt) Read more at oilprice.com ...
Not to worry, but any ownership stake sold will get re,nationalized during the next regime change.
The stock certificate will look great on the wall next to the one from D’Anconia’s San Sebastian Mine.
Shares of Aramco offering. Broker has 50 years of experience. Don’t buy the stock. Be very careful with Saudi Sovereign debt. This country is slowly melting. Stock deal has only one short term winner. Saudi’s need cash not partners.
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