Saudi Aramco taps Saudi billionaires for major IPO orders
5 years, 2 months ago

Saudi Aramco taps Saudi billionaires for major IPO orders

Live Mint  

Saudi Arabia is negotiating commitments from its wealthiest citizens to buy stock in the Aramco initial public offering, from the Olayan family and Prince Alwaleed Bin Talal to low-profile tycoons in the oil producer’s backyard, people with knowledge of the matter said. The billionaire Olayans, who own a major stake in Credit Suisse Group AG, are considering buying several hundred million U.S. dollars worth of Aramco shares, according to the people. Aramco representatives have been seeking an investment from the Almajdouie family, whose businesses range from distributing Hyundai Motor Co. vehicles in the kingdom to a large logistics operation, the people said. Eastern Province There’s no certainty the wealthy investors will place orders, and precise commitments could vary based on the final valuation decided by Aramco, the people said.

Saudi Group Aramco Olayan Ipo Orders  ipo  orders  prince  companies  saudi  major  group  billionaires  oil  worth  aramco  olayan  alwaleed  family  taps

History of this topic

Saudi oil giant Aramco posts third-quarter profits of $27.5 billion, down 15% from a year earlier
2 months ago

Saudi oil giant Aramco posts third-quarter profits of $27.5 billion, down 15% from a year earlier

The Independent  

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Saudi Aramco acquires 10% equity interest in Geely-Renault joint venture company
6 months, 1 week ago

Saudi Aramco acquires 10% equity interest in Geely-Renault joint venture company

China Daily  

Visitors gather at Saudi Aramco's booth during an expo in Abu Dhabi, the United Arab Emirates. RIYADH -- Saudi Arabian Oil Company, commonly known as Saudi Aramco, has signed definitive agreements to acquire a 10 percent equity interest in HORSE Powertrain Limited, a global powertrain solutions company formed by Renault Group and Chinese automaker Geely Auto Group, the Saudi Press …

Saudi Aramco’s $12 billion share sale: Dividends attract Indian, Chinese, and other foreign investors
7 months ago

Saudi Aramco’s $12 billion share sale: Dividends attract Indian, Chinese, and other foreign investors

Hindustan Times  

Foreign investors have flocked to Saudi Aramco’s $12 billion share sale, mostly attracted by the dividends, sources who did not wish to be identified, told Bloomberg. This is a completely opposite situation from the oil giant’s 2019 IPO that ended up as a largely local affair, as investors weren’t happy with the valuation expectations, Bloomberg reported. Apart from Western institutions, …

Why Saudi Aramco stock is a tough sell on Wall Street
7 months, 1 week ago

Why Saudi Aramco stock is a tough sell on Wall Street

Live Mint  

Saudi Aramco’s generous dividends can only go so far in making up for an overpriced initial public offering. The Saudi government, which will still own more than 80% of Aramco at the end of the sale, will use the proceeds to fund the country’s cash-hungry Vision 2030 initiatives. Aramco shareholders missed out on the share-price rallies and bumper payouts delivered …

Oil giant Saudi Aramco offers a second stock tranche worth billions of dollars
7 months, 1 week ago

Oil giant Saudi Aramco offers a second stock tranche worth billions of dollars

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia said Friday it …

Oil giant Saudi Aramco offers a second stock tranche worth billions of dollars
7 months, 1 week ago

Oil giant Saudi Aramco offers a second stock tranche worth billions of dollars

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia said Friday it will sell a second sliver of stock in its state oil giant Aramco worth billions of dollars, its first tranche since its initial public offering back in 2019. Saudi Aramco, formally known as the Saudi Arabian Oil Co., acknowledged the stock sale in a corporate disclosure online. The Saudi government …

Saudi Arabia may announce landmark Aramco share sale soon: Report
7 months, 1 week ago

Saudi Arabia may announce landmark Aramco share sale soon: Report

Hindustan Times  

Saudi Arabia may announce a landmark secondary share offering in oil giant Aramco later on Thursday, pending final approval from Crown Prince Mohammed bin Salman, people with knowledge of the matter said. Aramco share sale: The Saudi Aramco logo is pictured at Hyvolution exhibition in Paris, France. The share offering on Riyadh's Saudi Exchange, which the sources said is expected …

Saudi Aramco swears by long-term potential in Chinese market
7 months, 4 weeks ago

Saudi Aramco swears by long-term potential in Chinese market

China Daily  

Visitors gather at Saudi Aramco's booth during an expo in Abu Dhabi, the United Arab Emirates. Saudi Aramco, the world's largest oil exporter, said it is fairly optimistic about China's long-term growth potential and the abundant opportunities arising from the country's focus on high-quality development. The company will continue supporting China's long-term energy security and economic growth, eyeing greater investment …

Saudi Aramco says Q1 profit down 14.5 percent
8 months ago

Saudi Aramco says Q1 profit down 14.5 percent

Hindustan Times  

Oil giant Saudi Aramco said Tuesday its first-quarter net profit dipped 14.5 percent on year to $27.27 billion as the Gulf kingdom kept production cuts in place. The world's biggest crude exporter, whose profits dropped by a quarter last year, is currently producing roughly nine million barrels per day, well below its capacity of 12 million bpd. Deficits expected The …

Saudi Arabia Is in Talks to Add Top Wall Street Banks to Aramco Share Sale
9 months, 4 weeks ago

Saudi Arabia Is in Talks to Add Top Wall Street Banks to Aramco Share Sale

Hindustan Times  

Saudi Arabia is in talks to add top Wall Street banks for a secondary share sale in oil giant Aramco, as it pushes ahead with one of the largest stock offerings in recent years, people with knowledge of the matter said. It’s likely to be a marketed offering that’s open for a few days for investors to submit their orders, …

Aramco dividend hike hands PIF $5 billion quarterly windfall: What this means
10 months ago

Aramco dividend hike hands PIF $5 billion quarterly windfall: What this means

Hindustan Times  

Saudi Arabia’s sovereign wealth fund is set to earn about $5 billion in quarterly dividend payments from its stake in Aramco, after the government handed it more shares in the state-controlled oil company, which then said it would boost shareholder payouts. The hike in Aramco’s dividend, which is set to total at least $124 billion this year, comes days after …

Saudi Aramco's profit drops to $121B in 2023 amid energy price decline
10 months ago

Saudi Aramco's profit drops to $121B in 2023 amid energy price decline

Hindustan Times  

Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices. The results still marked the company's second highest ever result, Aramco said, as members of the OPEC alliance continue to cut their production to try to boost global energy prices. “The decrease mainly reflects the …

Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 record
10 months ago

Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 record

Associated Press  

DUBAI, United Arab Emirates — Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices. The results still marked the company’s second highest ever result, Aramco said, as members of the OPEC+ alliance continue to cut their production to try to boost global energy prices. …

Saudi Arabia’s crown prince transfers another 8% of Aramco shares to sovereign wealth fund
10 months ago

Saudi Arabia’s crown prince transfers another 8% of Aramco shares to sovereign wealth fund

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s crown prince transferred another 8% of shares in the kingdom’s oil giant Saudi Aramco to the country’s prominent sovereign wealth fund on Thursday. The country’s sovereign wealth fund known as the Public Investment Fund, or PIF, has been a key element of Mohammed’s plans, known as Saudi Vision 2030. “The transfer of part …

Saudi Arabia's crown prince transfers another 8% of Aramco shares to sovereign wealth fund
10 months ago

Saudi Arabia's crown prince transfers another 8% of Aramco shares to sovereign wealth fund

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia's crown prince transferred …

Saudi oil giant Aramco reports $30B in profits, down nearly 40% from last year due to lower prices
1 year, 5 months ago

Saudi oil giant Aramco reports $30B in profits, down nearly 40% from last year due to lower prices

Associated Press  

DUBAI, United Arab Emirates — Saudi state-run oil giant Aramco on Monday reported $30 billion in second quarter profit, a nearly 40% decline from the same period the previous year that it attributed to lower oil prices. In an earnings report filed with the Saudi stock exchange, Aramco said the decrease “mainly reflected the impact of lower crude oil prices …

Aramco Q1 PAT plummets 19% to $31.9 billion on lower crude prices
1 year, 8 months ago

Aramco Q1 PAT plummets 19% to $31.9 billion on lower crude prices

Live Mint  

On Tuesday, the Saudi oil giant Aramco reported a first-quarter net profit of 119.54 billion riyals, a drop of around 19% from the same period of the previous year. Aramco said the drop was mainly driven by lower crude prices, although partially offset by lower taxes and zakat and a rise in finance and other income. As per Refinitiv data, …

Saudi prince announces transfer of 4% Aramco stake to public investment firm
1 year, 8 months ago

Saudi prince announces transfer of 4% Aramco stake to public investment firm

Hindustan Times  

Saudi Arabia's crown prince announced Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to a subsidiary of the kingdom's sovereign wealth fund, further boosting its coffers as the kingdom tries to expand its economy beyond oil. Crown Prince Mohammed bin Salman's decision, announced by the state-run Saudi Press Agency, sends the stake to the Saudi …

Saudi prince gives 4% Aramco stake to public investment firm
1 year, 8 months ago

Saudi prince gives 4% Aramco stake to public investment firm

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s crown prince announced Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to a subsidiary of the kingdom’s sovereign wealth fund, further boosting its coffers as the kingdom tries to expand its economy beyond oil. Crown Prince Mohammed bin Salman’s decision, announced by the state-run Saudi Press Agency, sends …

Saudi Aramco to invest billions in Chinese petrochemicals
1 year, 9 months ago

Saudi Aramco to invest billions in Chinese petrochemicals

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia's state-owned oil giant …

Oil giant Saudi Aramco makes a historic $161B profit in 2022
1 year, 9 months ago

Oil giant Saudi Aramco makes a historic $161B profit in 2022

Associated Press  

DUBAI, United Arab Emirates — Oil giant Saudi Aramco reported Sunday earning $161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists. The monster profit by the firm, known formally as the Saudi Arabian Oil Co., came off the back of energy prices rising after Russia launched its war …

Saudi oil giant Aramco unveils $1.5B sustainability fund
2 years, 2 months ago

Saudi oil giant Aramco unveils $1.5B sustainability fund

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi oil and gas company …

High oil prices help Saudi Aramco earn $88B in first half
2 years, 4 months ago

High oil prices help Saudi Aramco earn $88B in first half

Associated Press  

DUBAI, United Arab Emirates — Saudi energy company Aramco said Sunday its profits jumped 90% in the second quarter compared to the same time last year, helping its half-year earnings reach nearly $88 billion. Prices have dipped below the $100 mark in past weeks amid slowed-down economic growth in China and the U.S. Aramco President CEO Amin Nasser said he …

Saudi oil giant Aramco’s first-quarter profits surge 80%
2 years, 7 months ago

Saudi oil giant Aramco’s first-quarter profits surge 80%

Associated Press  

DUBAI, United Arab Emirates — Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and surging oil prices following Russia’s invasion of Ukraine. The bumper first-quarter earnings by the firm formally known as the Saudi Arabian …

Aramco profit hits $110 billion as Saudis seek to expand investments
2 years, 9 months ago

Aramco profit hits $110 billion as Saudis seek to expand investments

Live Mint  

DUBAI : State oil giant Saudi Aramco said Sunday its 2021 net profit more than doubled to $110 billion, a boon to the Middle East’s largest economy as it seeks to use its hefty profits for investment opportunities domestically and abroad. Aramco’s income jumped 124% in 2021 from $49 billion a year earlier, due to higher crude oil prices, stronger …

Saudi Arabia gives 4% of Aramco worth $80B to fund
2 years, 10 months ago

Saudi Arabia gives 4% of Aramco worth $80B to fund

The Hindu  

Saudi Arabia said Sunday it will transfer 4% of the stock in the state-run oil giant Aramco to a sovereign wealth fund, an infusion valued at nearly $80 billion as the kingdom tries to overhaul its energy-dependent economy. Saudi Crown Prince Mohammed bin Salman, the assertive son of King Salman, made the decision to transfer the stock, the state media …

Saudi Arabia transfers $80 billion Aramco stake to kingdom’s wealth fund
2 years, 10 months ago

Saudi Arabia transfers $80 billion Aramco stake to kingdom’s wealth fund

Hindustan Times  

Saudi Arabia transferred a stake worth about $80 billion in state oil giant Aramco to the kingdom’s wealth fund as part of plans to boost its assets under management to over $1 trillion in four years. Saudi Arabia said it will transfer 4% of its stock in the state-run oil giant Aramco to its state investment fund, a nearly $80 …

Reliance, Aramco call off $15 bln deal amid valuation differences, sources say
3 years, 1 month ago

Reliance, Aramco call off $15 bln deal amid valuation differences, sources say

The Hindu  

Reliance Industries and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of the Indian conglomerate due to valuation concerns, sources with knowledge of the matter said. Aramco, the world's top oil exporter, signed a non-binding agreement to buy a 20% stake in Reliance's O2C business for $15 billion …

Saudi Aramco sees third-quarter income spike to $30.4 billion on surge in oil prices, recovery in demand
3 years, 2 months ago

Saudi Aramco sees third-quarter income spike to $30.4 billion on surge in oil prices, recovery in demand

Firstpost  

Aramco declared a dividend of $18.8 billion in the third quarter, in line with its target, which will be paid in the fourth quarter Dubai: The world’s largest oil company, Saudi Aramco, reported $30.4 billion in third-quarter net income on Sunday, bolstered by a surge in oil prices and recovery in demand as the coronavirus pandemic eases. Saudi Arabia’s majority …

RIL-Saudi Aramco deal to close this year: Ambani
3 years, 6 months ago

RIL-Saudi Aramco deal to close this year: Ambani

Live Mint  

Mumbai: Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, on Thursday said he expects the company's deal with Saudi Aramco to materialise this year. Speaking at the company's annual general meeting, Ambani said "As an important part of this vision of achieving accelerated growth, we look forward to welcoming Saudi Aramco as a strategic partner in our O2C …

RIL AGM 2021: RIL-Saudi Aramco Deal Likely this Year; Yasir Al-Rumayyan Joins Board
3 years, 6 months ago

RIL AGM 2021: RIL-Saudi Aramco Deal Likely this Year; Yasir Al-Rumayyan Joins Board

News 18  

Reliance Industries announced that the proposed deal with Saudi Aramco will likely be finalised this year during the 44th annual general meeting on Thursday. “As an important part of this vision of achieving accelerated growth, we look forward to welcoming Saudi Aramco as a strategic partner in our O2C business,” Mukesh Ambani, chairman and managing director of Reliance Industries shared …

Oil giant Saudi Aramco sees 2020 profits drop to $49 billion
3 years, 9 months ago

Oil giant Saudi Aramco sees 2020 profits drop to $49 billion

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia’s state-backed oil giant …

Aramco may have to sell assets, borrow more to maintain Saudi dividend
4 years ago

Aramco may have to sell assets, borrow more to maintain Saudi dividend

Live Mint  

Oil giant Aramco, whose dividend remains vital to helping Saudi Arabia contain a huge deficit, may have to sell assets and borrow more to fulfil its fiscal role amid uncertainty in oil prices, market specialists said. With oil prices at $50 per barrel or above, Aramco should be able to fund the $75 billion dividend and capex from operating cash …

World’s biggest oil firm Saudi Aramco kicks off bond sale
4 years, 1 month ago

World’s biggest oil firm Saudi Aramco kicks off bond sale

Live Mint  

Saudi Aramco kicked off a jumbo bond sale Tuesday to help fund a $75 billion dividend, returning to the debt markets for the first time since April of last year. Aramco, the world’s biggest oil company, is selling tranches maturing in three, five, 10, 30 and 50 years, according to a person with knowledge of the matter. But the spreads …

Saudi Aramco profits dive in coronavirus-hit Q3
4 years, 2 months ago

Saudi Aramco profits dive in coronavirus-hit Q3

Live Mint  

Energy giant Saudi Aramco on Tuesday posted a 44.6% slump in third-quarter profit, as the coronavirus pandemic weighs heavily on the global demand for crude oil. The world's most valuable listed company said it was committed to a bumper dividend even as third quarter net profits dropped to 44.21 billion Saudi riyals, compared to $21.3 billion in the same period …

Saudi Arabia’s financial woes mean it’s squeezing cash cow Saudi Aramco
4 years, 4 months ago

Saudi Arabia’s financial woes mean it’s squeezing cash cow Saudi Aramco

Live Mint  

The world’s biggest oil company is getting squeezed by its main shareholder, the Saudi Arabian government. “It will limit how much they can invest in things like maintaining the oil fields and developing new technologies.” Dividend Promise The government has previously leveraged Aramco’s balance sheet to bolster its own finances. Gearing could reach 30% by 2023 if crude prices remain …

Saudi Aramco suspends $10 billion China oil refinery venture
4 years, 4 months ago

Saudi Aramco suspends $10 billion China oil refinery venture

Live Mint  

Saudi Arabia’s state oil company has suspended a deal to build a $10 billion refining and petrochemicals complex in China, according to people familiar with the matter, as the company slashes spending to cope with low oil prices. Saudi Arabian Oil Co., or Aramco, decided to stop investing in the facility in China’s Northeastern province of Liaoning after negotiations with …

Reliance Industries’ $15 billion stake sale deal with Saudi Aramco stalled: Report
4 years, 5 months ago

Reliance Industries’ $15 billion stake sale deal with Saudi Aramco stalled: Report

Live Mint  

NEW DELHI: Talks about selling a 20% stake in Reliance Industries Ltd's oil-to-chemical business to Saudi Aramco have stalled over the valuation, four sources familiar with the matter said, as the energy market has been hit by COVID-19. Aramco wants India's Reliance to review its price for the oil-to-chemical business as the global valuation of oil assets has tumbled due …

Saudi Aramco in talks with banks to borrow about $10 billion for acquisition of 70% stake in SABIC: Report
4 years, 8 months ago

Saudi Aramco in talks with banks to borrow about $10 billion for acquisition of 70% stake in SABIC: Report

Firstpost  

Aramco agreed last year to buy the controlling stake in SABIC from the kingdom’s wealth fund for $69.1 billion, sealing one of the biggest-ever deals in the global chemical industry. Dubai/London: Saudi Aramco, the world’s largest oil producer, is in early talks with banks for a loan of about $10 billion to help finance its acquisition of a 70% stake …

Oil giant Saudi Aramco sees 2019 profits drop 20% to 88.2 Billion Dollars
4 years, 9 months ago

Oil giant Saudi Aramco sees 2019 profits drop 20% to 88.2 Billion Dollars

India TV News  

Oil giant Saudi Aramco said Sunday its profits dropped 20% in 2019 to $88.2 billion, a sharp decline coming as the kingdom stands ready to flood an already-weakened global energy market amid the new coronavirus pandemic. The announcement by the firm formally known as the Saudi Arabian Oil Co. did not address the kingdom’s plans to crank up production to …

Reliance, Saudi Aramco accelerate refinery stake sale talks
4 years, 10 months ago

Reliance, Saudi Aramco accelerate refinery stake sale talks

Live Mint  

Reliance Industries Ltd.’s talks to sell a minority stake in its oil-to-chemical division to Saudi Aramco have been gathering pace in recent weeks, according to people familiar with the matter. Indian billionaire Mukesh Ambani’s Reliance is keen to sign a binding agreement before the next annual shareholders meeting, which is due to take place before the end of September, one …

Saudi Aramco had raised IPO to record $29.4 billion by over-allotment of shares
4 years, 11 months ago

Saudi Aramco had raised IPO to record $29.4 billion by over-allotment of shares

Live Mint  

State-owned oil company Saudi Aramco said on Sunday it had exercised its "greenshoe option" to sell an additional 450 million shares, raising the size of its initial public offering to a record $29.4 billion. Aramco initially raised a $25.6 billion, which was itself a record level, in its December IPO by selling 3 billion shares at 32 riyals a share. …

Saudi Aramco inches near $2 trillion in day 2 of trading
5 years ago

Saudi Aramco inches near $2 trillion in day 2 of trading

Associated Press  

RIYADH, Saudi Arabia — Shares in Saudi Aramco gained on the second day of trading Thursday, propelling the oil and gas company to a near $2 trillion valuation, where it holds the title of the world’s most valuable listed company. With gains made from just two days of trading, Aramco sits comfortably ahead of the world’s largest companies, including Apple, …

Saudi stock offering creates world’s most valuable company
5 years ago

Saudi stock offering creates world’s most valuable company

Associated Press  

RIYADH, Saudi Arabia — Saudi Arabian oil company Aramco surpassed Apple as the world’s most valuable public company Wednesday when its shares made their debut on the Saudi stock exchange, part of an ambitious shift away from the very fossil fuels the country’s economy depends on. Zachary Cefaratti, chief executive officer of Dalma Capital, which manages Saudi equity funds that …

Saudi Aramco surges 10% in trading debut to hit $1.88 trillion market value
5 years, 1 month ago

Saudi Aramco surges 10% in trading debut to hit $1.88 trillion market value

Live Mint  

Saudi Aramco shares surged after the oil producer’s initial public offering, valuing the company at a record $1.88 trillion in the culmination of a four-year effort by the kingdom to list its crown jewel. The stock jumped the daily 10% limit to 35.20 riyals when trading began at 10:30 am in Riyadh as Aramco board members, Saudi officials and invited …

Saudi Aramco IPO: Shares spike after historic market debut
5 years, 1 month ago

Saudi Aramco IPO: Shares spike after historic market debut

CNN  

London CNN Business — Saudi Aramco shares increased 10% when they began trading on Wednesday, capping a stock market debut that shattered records but failed to achieve the$2 trillionvaluation sought by Crown Prince Mohammed bin Salman. Saudi Arabia’s giant state-owned oil monopoly last week pulled off the biggest IPOin history, raising $25.6 billion by selling 1.5% of the company. The …

Saudi oil giant Aramco announces world's largest IPO
5 years, 1 month ago

Saudi oil giant Aramco announces world's largest IPO

India TV News  

Saudi Arabian state oil giant Saudi Aramco on Thursday priced its initial public offering at the high end of the targeted range, a level that will allow the company to raise a record total of at least $25.6 billion. This IPO's size gives Aramco a market valuation of $1.7 trillion, pushing it ahead of Apple as the world's most valuable …

Saudi Aramco raises $25.6 billion in world’s biggest IPO
5 years, 1 month ago

Saudi Aramco raises $25.6 billion in world’s biggest IPO

Live Mint  

Saudi Aramco raised $25.6 billion from the world’s biggest initial public offering, closing a deal that became synonymous with the kingdom’s controversial crown prince and his plans to reshape the oil-rich nation. The deal opens up one of the world’s most secretive companies, whose profits helped bankroll the kingdom and its ruling family for decades, to investors and Saudi individuals. …

Saudi Aramco’s $25.6 billion IPO is the biggest in history
5 years, 1 month ago

Saudi Aramco’s $25.6 billion IPO is the biggest in history

CNN  

London/Vienna CNN Business — Saudi Arabia has just pulled off the biggest initial public offering in history, raising $25.6 billion by selling shares in its giant state-owned oil monopoly. Saudi Aramco sold 3 billion shares at 32 riyals each in its IPO, the company said Thursday. Saudi Aramco said last month that it was aiming to sell about 1.5% of …

Saudi Aramco order book reaches 73 billion riyals so far
5 years, 1 month ago

Saudi Aramco order book reaches 73 billion riyals so far

Live Mint  

Saudi Aramco's initial public offering has attracted approximately 73 billion riyals in institutional and retail orders so far, Saudi Arabia's Samba Financial Group said on Thursday. Some 1.8 million retail subscribers have injected more than 14 billion riyals into the IPO so far, Samba, one of the banks managing the deal, said in a statement sent to Reuters. "Retail and …

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