Exclusive: Saudi king tipped the scale against Aramco IPO plans

addyfred
FRO 28.08.2018 kl 20:22 1419

https://www.reuters.com/article/us-saudi-aramco-ipo-king-exclusive/exclusive-saudi-king-tipped-the-scale-against-aramco-ipo-plans-idUSKCN1LC1MX

LONDON (Reuters) - The king spoke, and a $2 trillion dream went up in smoke.

For the past two years, Saudi Arabia has prepared to place up to 5 percent of its national oil company on the stock market. Officials talked up the Saudi Aramco initial public offering (IPO) with international exchanges, global banks and U.S. President Donald Trump.

The planned listing was to be the cornerstone of the kingdom’s promised economic overhaul and, at a targeted $100 billion, the biggest IPO ever. It was the brainchild of 32-year-old Crown Prince Mohammed bin Salman, heir apparent of the world’s largest oil exporter.

But after months of setbacks, the international and domestic legs of the IPO were pulled.

The reason: the prince’s father King Salman stepped in to shelve it, three sources with ties to government insiders told Reuters. (..)

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Dette kan føre til at Saudi ikke lengre ønsker å kutte like mye i oljeproduksjonen. Dette, sammen med IMO-reglene og nye rørledninger i US, kan føre til en ny supersykel i tank.
Redigert 28.08.2018 kl 20:23 Du må logge inn for å svare
Volf
28.08.2018 kl 21:52 1357

Tuesday August 28, 2018

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