Saudi Arabia intends to spin off its state owned oil conglomerate, Saudi Aramco, next year and it will be the largest IPO, and quite possibly the biggest company by market cap in the world — expected to come in at $1 trillion.
Leading the assault is JP Morgan, Morgan Stanley, and HSBC, naturally.
And our President tweets this, like a dog.
Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!
— Donald J. Trump (@realDonaldTrump) November 4, 2017
So why does Saudi Arabia want to float 5% of their ‘crown jewel’?
BECAUSE THEY WANT TO GET THE HELL OUT OF CRUDE OIL.
The listing of Aramco, expected to be the world’s biggest IPO and raise tens of billions of dollars, is a centerpiece of the government’s ambitious plan – known as Vision 2030 – to diversify the economy beyond oil.
“We have two main factors to decide the percentage to be listed … First the demand, whether there will be demand or not. Second, what do we have in terms of investments in the pipeline inside Saudi or outside,” Prince Mohammed said, referring to opportunities to invest proceeds of the IPO.
In other words, the House of Saud needs bag holders to buy their stock so they could spend the money elsewhere, likely because they know the gig is up and the future for fossil fuels has never looked so grim.
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Cohn likely filled his head with this particular idea.
So build a Wall but felate the financiers of 9-11. Brilliant.
If they want to sell it’s because the fields are in decline. Same reason you sell your car to the next guy.
Exactly. The reported reserves are bullshit. The oil fields are depleted.
Trump is shilling for America. What does a Trumptard have to explain?
Is it that we are looking to do business with the Saudis, who some consider our enemies? They are major allies of the US, especially militarily. If you are truly interested in that point of view, check out the multitude of twitter threads of the illustrious Thomas Wictor. In his estimation I think he’d say the Saudis are doing more to crush terrorism than we are.
Lol. Yeah they sure have done a lot to crush terrorism. Almost as much as Pakistan has done. Thanks for the laughs.
What are your thoughts on what Thomas Wictor has shared about the Saudi’s covert anti-terrorist operations? Have you looked at them? These things are not covered by the mainstream media.
You are free to see them as conspiracy theories of course, since the MSM journalists you worship don’t tell that narrative, but Thomas does provide ample documentation / evidence of his claims.
Shake up in Saudi. al-Waleed bin Talal and a bunch of others arrested by crown prince.
Grim? What’s replacing fossil fuels? Fossil fuels have just begun.
1. This is the reason why oil is up. It’ll go back down after the IPO.
2. Why is the president shilling NYSE as opposed to, well, NASDAQ?
3. Why is the king of Saudi Arabia named after a fish?