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Tom Kirkman

Saudi Aramco IPO continues to flail around like a gasping fish on dry land

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I'm shockedShocked I tell you.  Why aren't investors flocking to invest in this ponzi scheme?

Cancelling all roadshows in developed markets is perhaps a warning sign.  Totally unexpected, I know.  That darn issue of transparency that developed markets seem to insist on.

My suggestion to Aramco is to consider hiring a Nigerian Prince to help spread the word online in unsolicited emails to potential marks (or potential investors, same thing) about the wonderful investment opportunities in this surefire, guaranteed, Aramco IPO.


Saudi Aramco markets IPO in Dubai after approaching Kuwait fund

DUBAI (Reuters) - Saudi Aramco met investors in Dubai on Sunday to market its initial public offering (IPO), after trying to secure demand from Kuwait’s sovereign wealth fund for the deal, worth up to $25.6 billion, which relies heavily on local and regional buyers.

Top executives of the Saudi state-owned oil giant, including Aramco’s Chief Executive Amin Nasser, met officials of Kuwait’s sovereign wealth fund weeks ago, a source familiar with the matter said, confirming an earlier report on Sunday in the Kuwaiti newspaper Alrai.

Meanwhile, Aramco’s management including its finance head and advisers met with institutional investors at an IPO roadshow in Dubai on Sunday, the second outside Riyadh after the company decided to cancel all roadshows in developed markets.

The Kuwaiti newspaper said the Kuwait Investment Authority’s (KIA) decision on whether to participate in the deal would depend on a “study” of the IPO.  ...


... Aramco has struggled to attract a major cornerstone or anchor investor for its IPO, which could be potentially the world’s biggest.


... Some investors asked Aramco about the sustainability of its dividend policy. Aramco has set a base dividend of $75 billion for five years.  ...


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