• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 9 hours China's aggression is changing the nature of sovereignty.
  • 20 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 23 hours CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 1 day OPEC+ Expects Large Oil Glut In Early 2022
  • 5 hours Ukrainian Maidan after 8 years
  • 21 hours NordStream2
  • 5 hours Delta variant in European Union
  • 19 hours President Biden’s Nuclear Option Against OPEC+ - Waste of Time
  • 1 day Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 1 day Forecasts for Natural Gas
  • 4 days "Gold Set To Soar As Inflation Fears Mount" by Alex Kimani
  • 2 days Big Bounce: Russian gas amid market tightness - new report by Oxford Institute for Energy Studies
How To Spot A Carbon-Free Con

How To Spot A Carbon-Free Con

Plenty of companies are pledging…

Saudi Aramco Shares To Start Trading On December 11

Following the largest-ever initial public offering, Saudi Aramco’s shares will be listed and start trading on the main market of the Saudi oil exchange on Wednesday, December 11, the Saudi Stock Exchange, Tadawul, said in a statement on Friday.

On Thursday, Saudi Aramco announced the final offer price for the offering. Saudi Arabia’s state oil giant priced its IPO at the top end of the range—32 Saudi riyals ($8.53), which made the share listing the largest in history, surpassing the US$25-billion IPO of Alibaba on the New York Stock Exchange in 2014.

At the start of the book-building process, Aramco had set an indicative price range of 30-32 Saudi riyals, (US$8-$8.53), per share, in its long-awaited IPO. The upper end of the pricing range gives the company a total value of some US$1.7 trillion.  

When its shares start trading on the Saudi stock exchange next week, Aramco will become the world’s largest listed firm by market capitalization, easily beating Apple whose market cap was some US$1.18 trillion early on Friday.

The offering size of 3,000,000,000 shares, accounting for 1.5 percent of the share capital, raised US$25.6 billion for the Saudi oil giant.

If a Purchase Option is exercised in full, the total offering size will be

3,450,000,000 shares, and the sum raised with the IPO will grow to US$29.4 billion, Saudi Aramco said in a statement late on Thursday.

Although the US$1.7 trillion valuation at pricing at the top of the range would make Aramco the most valuable listed company in the world, the valuation will still be US$300 billion short of the coveted US$2-trillion valuation that Saudi Crown Prince Mohammed bin Salman has sought for years.

Saudi Arabia also has to rely on domestic interest in its oil giant, and possibly on large institutional investors from its Persian Gulf friends, as foreign fund managers have not been too keen to invest in the world’s most profitable oil company.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News