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- Saudi Arabia has just pulled off the biggest initial public offering in history, raising $25.6 billion by selling shares in its giant state-owned oil monopoly. Saudi Aramco sold 3 billion shares at 32 riyals ($8.53) each in its IPO, the company said Thursday. That means the deal raised more than China’s Alibaba (BABA) in its 2014 public debut.
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Dec 5, 2019 · Saudi Aramco has raised a record $25.6bn in its initial public offering, capping a fraught journey to the public markets for the world’s largest oil company.
- Simeon Kerr
- History of Saudi Aramco
- Saudi Aramco's IPO
- Saudi Arabia's Involvement in Saudi Aramco
- Saudi Aramco's Financials
- The Bottom Line
Saudi Aramco was established following a concession agreementbetween the Saudi Arabian government and the Standard Oil Company of California in 1933. The company began primary drilling operations shortly after, commencing its first commercial oil production in 1938. Saudi Aramco expanded rapidly across Saudi Arabia over the next decade, reaching cr...
Plans for the company's public debut stalled for some time as some analysts argued that the company’s real value was far lower than the crown prince's $2 trillion valuation. There were also uncertainties about the response of investors to allegations that bin Salman was a key force behind the murder of The Washington Postjournalist Jamal Khashoggi....
Since the company is primarily a state-owned entity, the government of Saudi Arabia derives a significant portion of its wealth. In fact, Saudi Aramco pays a hefty tax rate of 50% to the Saudi Arabian government. Before 2017, the tax rate was 85%. Saudi Aramco's ties to the government resulted in a lower rating than would be expected of a firm of i...
For many years, Saudi Aramco’s financials weren't available to the public since the company was nationalized in the late 1970s. The oil company finally made its financial information available in a prospectustied to a $12 billion bond sale planned for 2019. Fiscal 2020 marked Saudi Aramco's second year as a public company. The year was marked by a ...
Saudi Aramco remains the world's largest oil producer in 2024. It's also the world's most profitable company, edging out Apple and Microsoft. Not surprisingly, the Kingdom of Saudi Arabia is looking to diversify its economy to prepare for a post-fossil fuel world. It has made progress, though it hasn't gotten there yet.
- Shoshanna Delventhal
Dec 5, 2019 · Saudi Arabia’s giant state-owned oil company, Saudi Aramco, on Thursday set the price of its initial public offering at a level that would raise $25.6 billion, a sum that is expected to make it...
Dec 5, 2019 · Saudi Aramco raised $25.6 billion from the world’s biggest initial public offering, closing a deal that became synonymous with the kingdom’s controversial crown prince and his plans to reshape...
- 3 min
Dec 12, 2019 · Saudi Aramco IPO Is World's Biggest Ever. Saudi Aramco stock touched $2 trillion in market cap on its second day of trading, after an IPO that valued the state-run oil giant more than Apple.
Nov 3, 2019 · DHAHRAN, Saudi Arabia/DUBAI (Reuters) - Saudi Arabia's giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the...
