Saudis Selling Shares In Their Oil Company – IOTW Report

Saudis Selling Shares In Their Oil Company

BBC

Saudi Aramco has confirmed it is planning to list on the Riyadh stock exchange, in what could be the world’s biggest initial public offering (IPO).

The state-owned oil giant will determine the IPO launch price after registering interest from investors.

Business sources say the Saudis are expected to make shares available for 1% or 2% of the firm, and the offer will be for existing company shares.

Saudi Aramco is thought to be worth about $1.2tn (£927bn). More

4 Comments on Saudis Selling Shares In Their Oil Company

  1. Yeah……considering that we, the United States, are now energy independent (and an energy exporter), that the price of a barrel of crude has fallen from over $150/bbl to less than $40/bbl (it has rebounded a little this year, but not much), that more energy sources are being found, and more ways to extract that energy more efficiently — somehow I’m not seeing this as a growth stock.
    Thanks, but no thanks, I’ll pass on this particular IPO.

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