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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Saudi market rules ready to launch Aramco by end of June

    Rocky
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    • Post n°1

    Saudi market rules ready to launch Aramco by end of June Empty Saudi market rules ready to launch Aramco by end of June

    Post by Rocky Thu 29 Mar 2018, 2:32 am

    Saudi market rules ready to launch Aramco by end of June


    Saudi market rules ready to launch Aramco by end of June 6957

    Saudi Arabia expects the disclosure by the end of next June of rules to prevent large stock price declines in newly listed companies, which will be the last regulatory step in preparation for listing Saudi oil giant Saudi Aramco, the head of the Saudi Arabian Financial Market Authority said on Thursday.
    The price stability mechanism is common in developed markets and allows IPO underwriters to use some of the company's shares to boost their price if they fall in the early days of trading or if the volume of shares traded is weak.
    The kingdom is reforming its stock market rules in preparation for local listing of state-owned Aramco, which hopes to raise $ 100 billion or more by selling 5 percent later this year.
    Saudi authorities say they want a global listing of Aramco, whose initial bid will be the largest in the world, but a decision has yet to be made about its location. The listing could be delayed until Aramco is trading on the Tadawul Saudi Stock Exchange.
    "The Authority has issued up-to-date rules in the last two months covering the way securities are sold in the Kingdom and how to calculate the IPO price using the method of building the IPO register," said Mohamed Al-Quwaiz, chairman of the Capital Market Authority (CMA).
    "Once the price stability list is released, we can say that the Saudi market will be fully scalable to accommodate an Aramco-sized offer or any size," he said.
    He told Reuters on the sidelines of the occasion that the regulations were "advanced stage" and will be issued before the end of the first half of the year.
    Al-Quwaiz said that the market authority also expects to start work by the end of the year on the rules for dual listings in the Saudi stock market and that it will put them on the market for an opinion in early 2019.
    "It is possible to speed up the timetable if a company makes a request to be listed in another market," he said.

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