Saudi Aramco IPO institutional tranche 2.95 times oversubscribed
Tuesday, 3 December 2019 The institutional tranche of Saudi Aramco's planned initial public offering (IPO) has been almost three times oversubscribed, receiving orders worth 189.04 billion riyals ($50.4 billion), financial advisers for the IPO said on Tuesday.
State-owned oil giant Saudi Aramco's IPO will be the biggest in history but concerns about corporate governance and nation's role in Middle East politics may have limited international interest. Conway G. Gittens has the details.
The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But as Francis Maguire reports Saudi Aramco sees things differently.