Posted on 08/22/2018 10:52:38 AM PDT by bananaman22
The long-wait is over. Today, reports surfaced that Saudi Arabia has long-ago called off its highly anticipated, $100-billion-dollar IPO, Reuters sources confirmed, with even plans to list the state-run oil company on its domestic bourse, Tadawul, being scrapped. Its merry band of advisors have also been dissolved.
The listing, which was to be the largest IPO in history, was delayed numerous times, its peril-fraught journey likely doomed from the start, encountering barriers anywhere from finding a suitable listing venue to quantifying its sizable oil reserves, from suspect transparency to in-fighting between the Saudi government and Aramco.
(Excerpt) Read more at oilprice.com ...
Dropping the IPO plan may be in part a consequence of the 2017 internal coup in SA, when the crown prince took full control. The old powers that be seem to have been behind this IPO business.
Back to selling camels?.....
Well, since the Saudis took Aramco away from Chevron, Exxon, Mobil and Texaco, why would want to buy into a company where the same thing could happen again? (Yes, I’ve mixed historic and current names for clarity).
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