Saudi IPO May Be Delayed

[Rodent + 1,424]

https://www.bloomberg.com/news/articles/2018-03-08/saudi-oil-minister-hints-aramco-ipo-could-be-delayed-until-2019

If you could only see my super sarcastic mock surprised face right now. I don't want to say I told you so. Wait. Yes I do. I told you so.

 

[TomTom + 183]

no shit Sherlock..

[Rodent + 1,424]

1 hour ago, TomTom said:

no shit Sherlock..

I find it quite this quote entirely amusing: "Between December 31st and January 1st there is no value lost for the kingdom,” al-Falih told Bloomberg in London. “So, I don’t see this artificial deadline that you refer to as being significant.” and “The only certain thing about the Saudi Aramco IPO is that a) it will happen, b) the anchor market will be the Tadawul exchange in Saudi Arabia.”

 

[Missy + 43]

http://money.cnn.com/2018/03/08/investing/saudi-aramco-ipo-new-york-london/index.html

Now Falih is talking about concerns with listing on NYSE. Not sure if this is just a matter of fact concern (which everyone knew about) or whether this is Falih fishing for different concessions in this matter or elsewhere. But here is where the US may shoot itself in the foot over our lawsuit-happy climate here. 

"I would say litigation and liability are a big concern in the US," energy minister Khalid Al Falih told CNNMoney's emerging markets editor John Defterios. "Quite frankly, Saudi Aramco is too big and too important for the kingdom to be subjected to that kind of risk." Al Falih made specific reference to New York City's decision to sue five big oil companies for the cost of protecting it from the "existential threat" of climate change. He called the allegations against the companies "frivolous."

In other words, "you people are nuts"

[Addy + 14]

1 hour ago, Missy said:

http://money.cnn.com/2018/03/08/investing/saudi-aramco-ipo-new-york-london/index.html

Now Falih is talking about concerns with listing on NYSE. Not sure if this is just a matter of fact concern (which everyone knew about) or whether this is Falih fishing for different concessions in this matter or elsewhere. But here is where the US may shoot itself in the foot over our lawsuit-happy climate here. 

"I would say litigation and liability are a big concern in the US," energy minister Khalid Al Falih told CNNMoney's emerging markets editor John Defterios. "Quite frankly, Saudi Aramco is too big and too important for the kingdom to be subjected to that kind of risk." Al Falih made specific reference to New York City's decision to sue five big oil companies for the cost of protecting it from the "existential threat" of climate change. He called the allegations against the companies "frivolous."

In other words, "you people are nuts"

Thanks, de Blasio.

[Kate Turlington + 44]

I agree that America is law-suit happy, but this is serious. We're talking about 9/11 here. 

[Rodent + 1,424]

2 minutes ago, Kate Turlington said:

I agree that America is law-suit happy, but this is serious. We're talking about 9/11 here. 

the 9/11 lawsuit is serious, yes. I think Falih's comments were specifically in regards to the climate change lawsuits against big oil. Although both lawsuit threats are likely a concern for Falih.

[Marina Schwarz + 1,576]

I am utterly and completely stunned. I did not see this coming. I was eagerly awaiting a date for the listing. Now I am crushed.

Seriously, when will everyone stop gulping every word that comes out of al-Falih's mouth like it's the holy truth? He's worse than Goldman!

NYSE is out of the race, so it's down to LSE versus HKEX. London may be cooler but Aramco should think about those Chinese investors the HKEX chief mentioned not that long ago.

 

[Rodent + 1,424]

7 hours ago, Marina Schwarz said:

I am utterly and completely stunned. I did not see this coming. I was eagerly awaiting a date for the listing. Now I am crushed.

Seriously, when will everyone stop gulping every word that comes out of al-Falih's mouth like it's the holy truth? He's worse than Goldman!

NYSE is out of the race, so it's down to LSE versus HKEX. London may be cooler but Aramco should think about those Chinese investors the HKEX chief mentioned not that long ago.

 

I'm thinking hkex too

[Kate Turlington + 44]

Reuters was also saying that they were focusing on a listing on the local exchange, the Tadawul. And Hong Kong keeps coming up now and then.