Gulf Oil and Gas accountACCOUNT

Aramco’s Planned $100B IPO On Hold

Source: www.gulfoilandgas.com 8/29/2018, Location: Middle East

Share |
The king spoke, and a $2-trillion dream went up in smoke.

Saudi Arabia has called off plans for the domestic and international listing of state oil giant Aramco, billed as the biggest stock flotation in history, four senior industry sources said. The decision to call off the IPO was taken some time ago, but no-one can disclose this, so statements are gradually going that way - first delay then calling off.

"It has been postponed until further notice," the source said.

For the past two years, Saudi Arabia has prepared to place up to 5% of its national oil company on the stock market. Officials talked up the Saudi Aramco initial public offering (IPO) with international exchanges, global banks and US President Donald Trump. The planned listing was to be the cornerstone of the kingdom’s promised economic overhaul and, at a targeted $100bn, the biggest IPO ever.

Investment News in Saudi Arabia >>

Norway >>  11/12/2018 - TGS announces a strategic collaboration with Axxis Geo Solutions (AGS) for multi-client ocean bottom node projects in the North Sea. The area of mutu...
France >>  11/11/2018 - On Friday, during the inauguration of the Beauce Gâtinais Biogas (BGB) methanization unit in France, in presence of François de Rugy, French Minister ...

United Kingdom >>  11/5/2018 - Reabold Resources has signed a subscription agreement with Rathlin Energy (UK), a wholly-owned subsidiary of Calgary-based Connaught Oil & Gas, to inv...
United Arab Emirates >>  11/4/2018 - Abu Dhabi’s Supreme Petroleum Council (SPC) approved the Abu Dhabi National Oil Company’s (ADNOC) new integrated gas strategy and plans to increase it...

Australia >>  10/29/2018 - Senex Energy has announced that following financial close of its $150 million debt facility, Final Investment Decisions have been taken and multi-year...
Qatar >>  10/28/2018 - Qatar Petroleum will allocate 750 free shares in Qatar Aluminium Manufacturing Company "QAMCO" (under incorporation) to all registered Qatari benefici...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 |

More News

 

Oil & Gas Companies in Saudi Arabia >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.