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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Saudi Aramco Pitches Abu Dhabi Investors On Troubled IPO (234 Views)
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Saudi Aramco Pitches Abu Dhabi Investors On Troubled IPO by gaetano: 4:35pm On Nov 29, 2019 |
Sources say oil company executives have been visiting UAE to obtain financial backing for big market debut.
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Re: Saudi Aramco Pitches Abu Dhabi Investors On Troubled IPO by gaetano: 4:37pm On Nov 29, 2019 |
In summary, Saudi Arabia is seeking to diversify its economy. It is going public with its crown jewel oil firm Aramco. Due to lack of interest from foreign institutional investors, it is relying on local and regional demand to pull off the deal. |
Re: Saudi Aramco Pitches Abu Dhabi Investors On Troubled IPO by budaatum: 5:05pm On Nov 29, 2019 |
Lack of interest due to low to negative transparency! No one knows how they arrived at a $1.6-1.7 trillion, but even if they made it up, a 4.4 percent dividend yield is rather low compared to peers. Expectation is, initial share price rise then drop below ipo as investors get shaved while waiting to see how a privatized Aramco weathers future crude oil price shock. Investor scrutiny would not be limited to Aramco neither, and might open up Saudi! |
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