Saudi oil giant is moving closer to the ipo

the Authorities in Saudi Arabia have approved the long-awaited ipo of world's largest oil company, the state-owned Aramco. It informs the authorities of an o

Saudi oil giant is moving closer to the ipo

the Authorities in Saudi Arabia have approved the long-awaited ipo of world's largest oil company, the state-owned Aramco. It informs the authorities of an o

Ann McDonald
Ann McDonald
03 November 2019 Sunday 05:00
8 Reads
Saudi oil giant is moving closer to the ipo

the Authorities in Saudi Arabia have approved the long-awaited ipo of world's largest oil company, the state-owned Aramco.

It informs the authorities of an official opinion.

This is Aramco a step closer to the ipo, which is expected to set new records on the stock markets.

According to the saudi-owned television station al-Arabiya disclose anonymous sources, that the prospectus for the shares of the oil company will be put forward about a week.

A listing of Aramco has been on the table since 2017, and has several times been postponed.

part of the reason has been that Saudi Arabia's crown prince, Mohammed bin Salman, has been dissatisfied with the assessment of the company's total value.

He has previously insisted that the company as a whole was 2000 billion u.s. dollars worth. A price equivalent to about 13.380 billion or 13.380.000.000.000 crowns.

It has american and british finanshuse not been agree. Therefore Aramco-shares now in the first put sales on the saudi stock exchange.

Aramco surpasses u.s. profitkonger

to show which league Aramco is in, has erhvervsmediet Bloomberg put olieselskabets profits for 2018, up against a number of the most well-known american companies:

* the oil Company Aramco: 743 billion.

* Mobile - and it-company Apple: 398 billion.

* Elektronikselskabet Samsung: 235 billion.

* the Holding company Alphabet, which owns, among other things, Google and YouTube: 205 billion dollars.

* Finanshuset JPMorgan Chase: 205 billion dollars.

* Oil - and gas company Shell: 157 billion crowns.

* the oil Company Exxon: 139 billion.

Sources: Bloomberg, Moody

According to Bloomberg, is the crown prince, however, has agreed to sell the shares to a price corresponding to a market capitalization for the entire company at about 1700 billion u.s. dollars - similar to the 11.375 billion.

It is far from the whole ownership of the company, there must for sale. In the first place, according to the AFP news agency the two percent that is put for sale on the saudi stock exchange Tadawul.

Later, three percent put for sale on a foreign stock exchange. It is not decided which, writes AFP.

Aramco will in many ways sit heavily on the top of the financial markets.

the Company, which according to Bloomberg is for ten percent of the world's oil, has an annual steady stream of income from the black gold.

According to Bloomberg earned Aramco last year, more than Apple, Exxon and Alphabet, which owns Google and YouTube, put together.

Updated: 03.11.2019 05:00
Comments

Warning!

You have to login for comment. If you are not a member? Register now.

Login Sign Up