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LONDON (Reuters) - Giant IPO promised to make history, after enduring delay after delay.
Investment banks advising Saudi Aramco are set to be rewarded with relatively slim pickings.
25 banks were working on listing will earn a slim fee, according to three sources involved in the deal,
teeth53 ( Date: 20-Nov-2019 17:42) Posted:
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danger ( Date: 09-Oct-2019 16:50) Posted:
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" Loh Boon Chye, CEO of Singapore Exchange, gave a vague response as to whether the listing of Saudi Aramco &ndash touted as potentially the world&rsquo s largest IPO ever &ndash could take place here. "
Saudi Aramco, the world&rsquo s biggest oil producer, is expected to file its IPO prospectus by the end of the month, people familiar with the matter told the Wall Street Journal.
The prospectus will reportedly first be published in Arabic on Oct. 25 and then in English two days later, according to a timeline seen by the Journal.
The state-owned oil enterprise will list its shares on Saudi Arabia&rsquo s Tadawul exchange, as part of Crown Prince Mohammed bin Salman&rsquo s economic reform plan. The crown prince anticipates listing 5% of the company in total domestically and internationally by 2020 or 2021. If the Saudi government decides to move forward with the listing, 1% to 2% of Aramco&rsquo s shares will be listed domestically by late November or early December, people familiar with the matter said
OIL UP 10.7% TO $60.70
laksaman57 ( Date: 13-Sep-2019 16:43) Posted:
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laksaman57 ( Date: 12-Sep-2019 21:39) Posted:
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danger ( Date: 13-Sep-2019 16:06) Posted:
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danger ( Date: 15-Sep-2019 10:58) Posted:
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"The Crown Prince gave PM Lee an update on Vision 2030, a plan to reduce his nation's dependence on oil and transform its economy. This included how Singapore companies were well-placed to participate in the opportunities stemming from the plan, such as in the tourism, finance and petrochemical sectors."
SEMCORP , KEPPEL ETC
Singapore Exchange has held talks with Saudi Aramco on a secondary listing, two sources familiar with the matter said on Monday, after the oil and gas company suggested last week it would likely list on more than one exchange.
The planned listing next year of up to 5 per cent of Aramco is expected to be the world' s biggest initial public offer (IPO). Saudi Energy Minister Khalid al-Falih said last week the company was evaluating concurrent listings on more than one exchange.
The two sources told Reuters that the talks with SGX were still at an early stage, with Aramco reviewing several markets including New York, London, Hong Kong and Japan.
Aramco and GIC declined to comment, while SGX said in a statement that it was the world' s most international exchange and " offered unique access to Southeast Asia' s markets" .
SGX has taken measures to boost market liquidity and attract bigger IPOs but it has mostly become a large Asian centre for Real Estate Investment Trusts listings.
In pitching for Aramco, Singapore is highlighting its status as a leading oil trading hub, with 80 per cent of the top 30 oil and gas companies having a presence in the city, according to data from government agency International Enterprise Singapore.
Singapore is a waypoint on the main shipping lanes between the Middle East' s crude oil exporters and North Asia' s leading industrial hubs of China, Japan, South Korea and Taiwan.
The city-state' s centrality within emerging Southeast Asia has also attracted oil traders as has the fact that Australia' s rising oil and natural gas exports flow via Singapore.
Being at the heart of the region' s oil shipping routes has allowed trading in Singapore to set Asia' s oil pricing benchmarks, with price reporting agencies like S& P Global Platts using physical oil deals to set the daily prices off which refined products like diesel or gasoline are priced.
laksaman57 ( Date: 12-Sep-2019 21:39) Posted:
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" Aramco Proposes Two-Stage IPO, Shunning London, Hong Kong"
laksaman57 ( Date: 11-Sep-2019 20:37) Posted:
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