Concentrate on acquiring SABIC equity! Sha Guochuan has decided to suspend Aramco's IPO project – News – Finance Knowledge Base

MoneyDJ News 2018-08-23 07:26:06 Reporter Cai Chengqi Report

Reuters reported on the 23rd that Saudi Arabia has decided to suspend the IPO of Saudi Aramco, according to various sources from the industry. The Saudi related people pointed out that "the suspension of the IPO is a decision that was taken not so long ago".

According to other interested parties "the information about the suspension of the IPO has been received", the frameworks of the oil industry have also revealed that "the possibility of not reaching an IPO is even higher than the possibility of an IPO. keep on performing. "

Related sources pointed out that Aramco is currently planning to acquire a majority stake in the petrochemical giant Shawdi Foundation Industries (SABIC) and to implement the above plan, the financial advisory team that promotes IPO-related preparations is dissolved.

The Aramco IPO project was presented by Mohammed bin Salman, who stimulated economic reforms in the country. It was originally planned to release approximately 5% of Aramco's shares to the IPO. The business value of Aramco is estimated at $ 2 trillion or more, and once it is realized, it is expected to become the largest IPO case in history.

The Wall Street Journal (WSJ) also reported on 5 July that Saudi Arabia could leave the Aramco IPO program.

Reuters, Wall Street Journal reported that MSCI Alum announced on June 20 that Saudi Arabia will join Argentina in May 2019 in the MSCI Emerging Markets Index. EFG Hermes estimates that Saudi Arabia will attract $ 30 to $ 45 billion in capital inflows over the next two years.

* Note from the editors: this document is for informational purposes only and does not constitute an offer, invitation or invitation, inducement, any form of representation, recommendation or recommendation. Readers are advised to use their own independent thinking skills to make their own investment decisions. If the loss is caused by the relevant recommendations, this is not related to "Compact Financial Media", editors and authors.

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