Aramco IPO prospectus expected to be filed by end of the month, report says
Saudi Aramco, the world's biggest oil company, is expected to file its IPO prospectus by the end of the month.
The Aramco IPO was delayed in 2018, reportedly over Saudi officials' concerns about public scrutiny of the company's finances. A damaged pipeline is seen at Saudi Aramco oil facility in Khurais, Saudi Arabia, September 20, 2019.Saudi Aramco, the world's biggest oil producer, is expected to file its IPO prospectus by the end of the month,The prospectus will reportedly first be published in Arabic on Oct. 25 and then in English two days later, according to a timeline seen by the Journal.
The state-owned oil enterprise will list its shares on Saudi Arabia's Tadawul exchange, as part of Crown Prince Mohammed bin Salman's economic reform plan. The crown prince anticipates listing 5% of the company in total domestically and internationally by 2020 or 2021. If the Saudi government decides to move forward with the listing, 1% to 2% of Aramco's shares will be listed domestically by late November or early December, people familiar with the matter said.
The crown prince has indicated that he wants a valuation of $2 trillion, though analysts and Aramco officials have valued Aramco at closer to $1.5 trillion.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
WeWork Investors Turned Off by ‘Sloppy’ IPO FilingsThe more investors learned about WeWork, the less they liked it. The details that were wrong or omitted from its financial disclosures may have soured them even more and may pose a risk if the company tries to go public again.
Weiterlesen »
Kazakh IPO fail is only partly about WeWorkKaspi.kz postponed its $5 bln float blaming markets spooked by the U.S. group’s own pulled listing. But the firm is more a bundle of payments and banking pursuits than a fintech star. Add Kazakhstan’s status as a risky emerging market and there was lots not to like.
Weiterlesen »
SmileDirectClub tumbles after IPO banks give thumbs upSeveral 'buy' ratings from SmileDirectClub's IPO banks failed to ...
Weiterlesen »
One Medical, the health clinic chain backed by Alphabet, has hired banks ahead of an IPOHaving built a network of over 70 medical clinics, One Medical is getting set to tell its story to Wall Street.
Weiterlesen »
Goldman Sachs evaluating involvement in Megvii IPO after U.S. actionGoldman Sachs Group Inc said on Tuesday it is reviewing its involvement in Megvi...
Weiterlesen »