Saudi Aramco IPS - worlds largest company lists on stock exchange in Saudi Arabia

1. 2019-11-03 at 8:28 PM UTC

   #1
   

   Star Trek VI: The Undiscovered Country Dark Matter [my scoffingly uncritical tinning]
   *IPO not IPS
   
   
   

   The deal is likely to price on the Tadawul exchange around a valuation of $1.7 trillion, with a low range of $1.6 trillion, and a high range of $1.8 trillion, sources told The Journal.
   
   At a $1.5 trillion valuation, Aramco would raise $45 billion for a 3% stake on the Tadawul exchange.
   
   The purpose of the IPO is to diversify the Saudi economy away from the oil industry and to invest more in technology, healthcare, mining, and tourism sectors.
   
   MbS is leading the transformation as apart of the Saudi Vision 2030 plan to reduce the country's dependence on oil.

   https://www.zerohedge.com/commodities/saudi-arabia-announces-its-long-awaited-ipo-sate-run-oil-giant-aramco
   
   The fucking money these fine gentlemen have is insane.
2. 2019-11-03 at 8:30 PM UTC

   #2
   

   Star Trek VI: The Undiscovered Country Dark Matter [my scoffingly uncritical tinning]
   I might like to work in Saudi Arabia some day. Therefore I won't say that giving your money to some greasy arab king to hold on to for you is a pretty bad idea.
3. 2019-11-03 at 8:45 PM UTC

   #3
   

   Sudo Black Hole [my hereto riemannian peach]
   I read about this a few years ago and thought about investing just for the initial bump then selling it off but now I really don't like the idea of supporting the saudi regime
   The following users say it would be alright if the author of this post didn't die in a fire!

   • aldra
4. 2019-11-03 at 9:06 PM UTC

   #4
   

   Star Trek VI: The Undiscovered Country Dark Matter [my scoffingly uncritical tinning]
   The ridiculous thing is that the money raised by selling shares in this is supposed to go to supporting Saudi Arabia's non-oil economy. Which is ridiculous, as Saudi Arabia doesn't have a non-oil economy, and never will. Any economy Saudi Arabia has is due to highly paid foreign experts showing up to run shit. The average local IQ is like 85 or something.
   The following users say it would be alright if the author of this post didn't die in a fire!

   • aldra
5. 2019-11-03 at 9:14 PM UTC

   #5
   The Self Taught Man Black Hole
   Are they selling it because a rebel insurgency group in one of the poorest nations on Earth that's both in a civil war and being attacked from al queda is able to wipe out a big percentage of their oil assets at will ???