{"id":261441,"date":"2019-11-04T18:10:58","date_gmt":"2019-11-04T21:10:58","guid":{"rendered":"https:\/\/anba.com.br\/?p=261441"},"modified":"2019-11-04T19:44:33","modified_gmt":"2019-11-04T22:44:33","slug":"saudi-aramco-allowed-to-sell-shares","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/saudi-aramco-allowed-to-sell-shares\/","title":{"rendered":"Saudi Aramco allowed to sell shares"},"content":{"rendered":"

S\u00e3o Paulo \u2013 Saudi state-owned oil company Saudi Aramco\u2019s Initial public offering (IPO) was approved by the country\u2019s Capital Markets Authority (CMA), the local financial regulatory authority, as per information published on Saudi newspaper Arab News<\/em><\/a>.<\/p>\n

\u201cSaudi Aramco has received the confirmation from Saudi [stock exchange] Tadawul to list … it will start the official IPO (process),\u201d the company\u2019s chairman Yasir Al-Rumayyan said last Sunday (3rd<\/sup>) during a press conference in Dhahran, in Easter Province, on the Gulf coast, where the state-owned company is.<\/p>\n

\"\"<\/a>
Amin Nasser (L) and Yasir Al- Rumayyan (R) during a press conference<\/figcaption><\/figure>\n

As per Arab News<\/em>, in mid-December Saudi citizens, resident expatriates. and professional foreign investors will be able to buy and sell shares of the world\u2019s biggest oil company. Saudi Arabia is the country that most produces and exports oil, and most of these riches are in the hands of Aramco.<\/p>\n

The company\u2019s share sale is a result of a pledge made by the Saudi crown prince Mohammed Bin Salman in 2016 as part of the multiannual strategic plan Vision 2030. The initiative is expected to be the largest listing in the history of financial markets.<\/p>\n

\u201cToday marks a significant milestone in the history of the company, and important progress toward delivering Saudi Vision 2030, the Kingdom\u2019s blueprint for sustained economic diversification and growth,\u201d Al-Rumayyan was quoted as saying in Arab News<\/em><\/p>\n

Al-Rumayyan is also the Saudi Public Investment Fund (PIF), which announced last week the intention to invest up to USD 10 billion<\/a> in several areas in Brazil during the president Jair Bolsonaro\u2019s travel to the Arab country.<\/p>\n

Aramco will invest only a minority share and, at first, the listing will be held on the Saudi stock exchange only. The percentage of local and international investors will be set later. The offering price is also still to be determined. The exact date was not given either.<\/p>\n

\u201cThe percentage of international investors versus local investors is yet to be determined,\u201d said Aramco CEO and President Amin Nasser.<\/p>\n

Year-to-date through November, Aramco posted a net profit of USD 68.2 billion, down 18% year-on-year. Nevertheless, its profit is still higher than the profit of any other company listed in any stock exchange around the world.<\/p>\n

Translated by Guilherme Miranda<\/strong><\/p>\n

AFP<\/div>\n","protected":false},"excerpt":{"rendered":"

Saudi state-owned oil company IPO received approval by the financial regulatory authority and is set to run next December in what\u2019s expected to be the biggest share sale in history.<\/p>\n","protected":false},"author":2316,"featured_media":261433,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[11910,12391,38392,11959,9576,12392,1964,9595,10172,33601,3531,3636],"class_list":{"0":"post-261441","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-arabia-saudita-en","9":"tag-aramco-en","10":"tag-bolsa-de-valores-en","11":"tag-gas-ar","12":"tag-gas-en","13":"tag-ipo-en","14":"tag-oil","15":"tag-saudi-arabia-en","16":"tag-saudi-aramco-en","17":"tag-saudi-aramco-en-2","18":"tag-shares","19":"tag-stock-exchange"},"wps_subtitle":"Saudi state-owned oil company IPO received approval by the financial regulatory authority and is set to run next December in what\u2019s expected to be the biggest share sale in history.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/261441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=261441"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/261441\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/261433"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=261441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=261441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=261441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}