Guardian: Aramco's value has fallen below $ 2 trillion
10:26 - 18/11/2019
According to Britain 's Guardian newspaper on Monday, down the value of Aramco oil giant Saudi Arabia less than two trillion dollars.
The newspaper said in a report that the company announced its shares on the Saudi Stock Exchange for a price ranging between 30 and 32 riyals per share, which means that the total value of the company will be between 1.6 and 1.7 trillion dollars, that is, the value sought by Crown Prince Mohammed bin Salman has shrunk.
She added that the reason is that investors receive the IPO, which has been postponed several times lukewarm even though Saudi Arabia has confirmed the offering of shares to investors in the Middle East only during the first phase, where it ensures the support and support of businessmen.
She explained that the company only offered 1.5 percent of its shares, although it is known that the IPO is 5 percent of the size of the company as previously planned to be distributed between the local trading exchange in the Kingdom and a global stock exchange.
She pointed out that the company is reaching out to international investors in both China and Russia as a prelude to launching its shares in international markets.It also met with representatives of major international banks and well-known investment funds that have received them in spite of doubts about the value of the company sought by Mohammed bin Salman, which is $ 2 trillion.
The value of the company, according to a Bloomberg Network poll of international economists, ranged from $ 1.2 to $ 1.5 trillion. Done / 25