Saudi Aramco opens up $180 billion from its $1.7 trillion IPO price.
The petroleum sector provides 87% of Saudi budget revenues, 90% of export earnings, and 42% of GDP.
Apple is the second largest publicly traded company at $1.20 trillion in valuation and Microsoft is at $1.16 trillion.
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If I was a local I would move my money to the U.S., buy U.S. citizenship and move to the U.S. Things are going to get dicey in that neighborhood soon.
Yeah, I wonder why no one is talking about how only 1.5% of shares were issued? If Aramco issued another 1.5% tomorrow, the stock would instantly be diluted by 50%…with a lot more shares where that came from.
With those lunatics, If I were local I would consider that a legitimate concern.
The homicidal prince, the one the western media was venerating up until the dismemberment, really really wants $2T valuation.
The Saudis floated the IPO on a local exchange and forced locals to buy shares while only floating ~2% of all of the shares. This was really more of a creative tax than an IPO.