Aramco reached $2 trillion on the local Saudi exchange, but, in the process, the government and the company made international investors extremely skeptical.
two days after its listing on the Saudi stock exchange, Tadawul. Now Saudi prince Mohammed can claim a political victory before the people of the kingdom, asserting that the market has shown his assertion of a $2 trillion valuation to be true almost four years after he first spoke of it.
December 11, 2019. - Saudi Aramco's shares soared on their debut on the domestic stock exchange Wednesday, becoming the world's biggest listed company worth $1.88 trillion after a record-breaking IPO. Aramco had priced the initial public offering at 32 riyals per share, raising $25.6 billion and eclipsing Alibaba's $25 billion IPO of 2014 to become the world's largest. The question is whether Aramco is really worth $2 trillion under the current circumstances.
There were advertisements in Saudi Arabia promoting the IPO in the leadup to the event, hyping Aramco stock with wild, unprovable and sometimes demonstrably false claims. One ad told citizens not to hesitate, because the value of Aramco stock would triple. The government has incentivized retail investors in the IPO with a promise of 10% additional shares if they hold their positions for at least six months.
The authoritarian government generally operates by centralized planning and coercion, so this behavior is almost expected.of Aramco on an international exchange, perhaps in Japan or China. Unlike the Tadawul listing, this would require eager international investors.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Saudi Aramco Reaches $2 Trillion Market Value In Record IPO’s Second Day Of TradingThe state oil giant’s value continues to rise, briefly hitting $2 trillion on its second day after going public.
Leer más »
Intel acquires Israel-based Habana Labs for $2 billionIntel Corp has acquired Israel-based artificial intelligence firm Habana Labs fo...
Leer más »
Cineworld To Acquire Canada’s Cineplex In $2.1B Deal, Making Regal North America’s Largest Exhibition CircuitExhibition giant Cineworld, which acquired U.S. chain Regal Cinemas in 2018 for $3.6B, is adding another group to its portfolio with a proposed $2.1B (C$2.8B) purchase of Canada’s Cineplex. T…
Leer más »
Cineworld Boss Mooky Greidinger Talks $2.1B Cineplex Deal, Says Unlimited Subscription Service Will Expand To CanadaEXCLUSIVE: Cineworld CEO Mooky Greidinger is in a bullish mood after this morning’s announcement that the exhibition giant is poised to acquire Canada’s Cineplex, creating North America’s lar…
Leer más »
Saudi Aramco Reaches $2 Trillion Market Value In Record IPO’s Second Day Of TradingThe state oil giant’s value continues to rise, briefly hitting $2 trillion on its second day after going public.
Leer más »