Aramco IPO $1.5 Billion retail fully subscribed. Gave loans to 20k Princes to buy. It's like giving your 5 year old son money to buy you a birthday present.

[Jabbar + 465]

How many flying cars for Saudi future city NEOM can MBS buy with $1.5 Billion. 

Giving son money to buy you present is nice.  Giving Saudis loans to buy Aramco stock is embarrassing.

With 22 of the leading world Investment Banks vying for $450 MILLION IN FEES up for grabs could not muster ONE interested investor.

Saudi gave 20,000 royals loans to buy the IPO.  The royals own Aramco now.  So really just distribution of their stock.  The royals will pay down the loans with their yearly stipend they receive from Aramco's earnings.

Last week Saudis arrest a number of bloggers and dissidents that dared to criticize the government. Yesterday they released some.  Goldman Sachs must have informed MBS that imprisoning dissidents is not good for a country trying to entice foreign investors.

The whole idea behind Aramco IPO was to diversify Saudi economy and DEMONSTRATE THAT FOREIGN INVESTMENT IN THEIR COUNTRY WAS VIABLE.

The failed IPO did much harm with no benefits.  

Ten years too late

Edited November 28, 2019 by Jabbar
Typo

[Tom Kirkman + 8,860]

1 hour ago, Jabbar said:

The whole idea behind Aramco IPO was to diversify Saudi economy and DEMONSTRATE THAT FOREIGN INVESTMENT IN THEIR COUNTRY WAS VIABLE.

The failed IPO did much harm with no benefits.  

So ... a win - win situation then.

 

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