Saudi Aramco IPO Seems Unlikely
The proposed Saudi Aramco IPO seems increasingly unlikely to actually take place, in my opinion.
The Aramco IPO of 5% of the "family jewels" was originally heavily promoted to be listed on the New York, London or Hong Kong stock markets. But those locations fell through with a resounding thud. Despite media chatter, those key financial hubs seem clearly not suitable for the Aramco IPO. Due to lack of transparency by Aramco, and also the very real threat of litigation against Aramco, espe
Amusingly accurate update, from an article today on Oil Price:
The Real Reason Behind The Next Oil Squeeze
I hold the view that KSA is currently fairly happy with the supply/demand balance. At one time they weren’t happy due to an approximate $100 billion budget deficit from low oil prices (we can be forgiven for seeing a delicious irony in this outcome). This was a prime factor in the notion of selling off 5 percent of Aramco in an IPO, that was formally announced in early 2016. The f