Banks seek additional fees from Aramco after record float January 14, 2020 Banking giants who were involved with Saudi Aramco’s record-breaking initial public offering (IPO) last month are lobbying for an “incentive fee” as they try to boost low earnings from the deal. Sources close to the matter told Reuters that the banks were in discussions with the state-owned oil firm over a clause in the contract [...]
Saudi Aramco IPO rises to $29.4bn after company issues extra shares January 12, 2020 The value of Saudi Aramco’s gargantuan initial public offering (IPO) has increased to $29.4bn (£22.5bn) after the state oil company announced it had issued 450m more shares through its “greenshoe option.” The new shares mean that Aramco’s IPO has risen by almost $4bn, meaning it is now comfortably the world’s biggest IPO. Read more: Saudi [...]
Despite its sky-high valuation, the Saudi Aramco IPO was no success December 18, 2019 When Saudi Aramco launched its IPO on the Tadawul (the Saudi stock market) earlier this month, it quickly became the world’s most valuable listed company, with a valuation of $1.7 trillion. It is now worth more than the next five largest hydrocarbon companies — ExxonMobil, Total, Royal Dutch Shell, Chevron and BP — combined. Yet [...]