Aramco could launch million-dollar share sale

Isbel Lázaro.

Share on social networks

acciones

Inspenet, September 4, 2023.

Aramco, the Saudi Arabian oil company, is considering the possibility of carrying out a public offering of shares that could reach a value of up to 50,000 million dollars , according to sources close to “The Wall Street Journal”.

If this offer materializes, it would become the largest ever recorded in the history of the stock markets, surpassing the previous record held by Ant Group, which in 2020 put up for sale shares worth more than 34,000 millions of dollars.

Un chofer humanoide se apodera del volante de un
TerraPower construye una planta de reactores nucleares
El robot Eve ahora obedece comandos de voz
En China estan fabricando robots con expresiones faciales
El desarrollo y entrenamiento de robots humanoides de Tesla
A humanoid driver takes over the steering wheel of a robotaxi
Bill Gates and TerraPower build nuclear reactor plant in the U.S.
Eve robot now obeys voice commands
China is making robots that perform facial movements
Tesla announces that two autonomous humanoid robots are working in one of its factories.
PlayPause
previous arrowprevious arrow
next arrownext arrow
 

“After months of consultations with advisers, the kingdom decided to host any new Aramco offerings on the Riyadh stock exchange to avoid legal risks associated with an international listing, according to Saudi officials and others familiar with the plan,” said the aforementioned source.

When would the sale of shares begin?

Although a final decision has not yet been made, the sale is expected to take place before the end of the year, but there is also the possibility that the offer could be postponed, which would be another attempt to sell Aramco shares.

Aramco is known as the most profitable oil company in the world and has repeatedly tried to sell part of its holdings to finance projects outside the oil field , without success so far.

Since at least May, Bloomberg had already reported on Saudi Arabia’s plans to sell Aramco shares, two years after Crown Prince Mohammed Bin Salman announced a new public offering attempt.

In the past month, the company reported a 38% decline in quarterly profit due to falling energy commodity prices and production cuts, but at the same time, its dividend increased by more than half. .

Source: https://sputniknews.lat/amp/20230903/el-gigante-petrolero-aramco-lanzaria-la-mayor-venta-de-acciones-de-la-historia-1143312322.html

Share this news on your social networks

Rate this post
1 star2 stars3 stars4 stars5 stars (No rating yet)
loading spinnerLoading...