Shares in Saudi Aramco beat expectations on their first day of trading on Saudi Arabia’s domestic exchange, surging by 10% to give the oil giant a valuation of US$1.88 trillion. Aramco shares rose to $9.39 on Wednesday after initially opening at $8.53 during its initial public...
Saudi Aramco will not formally market its shares outside of the Gulf after cancelling plans for a European roadshow ahead of its long-awaited initial public offering (IPO). The postponement of the European roadshow, reported by the Financial Times, comes a day after the Saudi oil behemoth...
Saudi Aramco has announced a date for its long-awaited initial public offering (IPO) on Saudi Arabia’s domestic exchange, in what could be the world’s largest ever public float. The oil giant and world’s most profitable business will list up to 3% of the company on the...
Saudi Aramco has pledged to pay potential investors an annual base dividend of US$75 billion as the Saudi oil giant ramps up its preparations for a listing on an international exchange. In a corporate overview posted to its website yesterday, the state-run firm said it would...
Saudi Arabia has claimed it will bring its crude output back to full capacity early next week, following the attacks on its Abqaiq and Khurais facilities earlier this month. A source briefed on the latest developments told Reuters that Saudi oil output has already been restored...
Saudi Arabia has denied reports it has cancelled plans to float state-run oil giant Saudi Aramco, in what has previously been labelled the biggest ever initial public offering (IPO), estimated at US$2 trillion. A report emerging from Reuters on Wednesday told how financial advisers working on...