TOPICS
IPO

Listing Aramco on Saudi Tadawul remains an option

Wednesday, 3 January 2018

While all eyes were firmly glued on speakers and the bold new mega project initiatives rolled out at the recent Future Investment Initiative organized by the Public Investment Fund (PIF) in Riyadh last year, Saudi Stock Exchange Tadawul’s CEO Khalid al-Hassan asserted that Tadawul aspired to be the main exchange in the region and to be the exclusive venue for the planned Aramco IPO listing. The Kingdom has not yet decided on a final venue for its dual Saudi-international listing, with ...

Dr. Mohamed A. Ramady

Saudi budget 2018: Worthy of Vision 2030

Monday, 1 January 2018

Saudi Arabia has announced a SR 978 billion budget for 2018, describing it as the largest budget in its history in terms of spending. Perhaps the most significant contribution to the budget this year was its adoption of an advanced method of financial engineering to expand the “tools” in the hands of the state in an unprecedented manner. The budget, which in the past has been 90 percent dependent on oil revenues, is this year not more than 50 percent based on revenue from oil. The ...

Hussein Shobokshi

EFG Hermes expects to start factoring services in Q1 2018

Sunday, 24 December 2017

Egyptian investment bank EFG Hermes expects to begin offering factoring services in the first quarter of 2018 as part of a push into non-banking services, the group’s CEO Karim Awad told reporters on Sunday. Factoring is a financial transaction in which a company sells its debt to a third party at a discount for immediate financing so that it can begin operations. EFG Hermes, one of the largest investment banks in the Middle East, said it expected non-financial ...

Abu Dhabi’s ADNOC Distribution fuel firm IPO raises $851 mln

Friday, 8 December 2017

The fuel distribution unit of Abu Dhabi National Oil Company priced its initial public offering (IPO) at the mid-point of a revised indicative range, valuing the deal at $851 million (3.1 billion dirhams), the company said on Friday. ADNOC Distribution priced each share at 2.50 dirhams, it said in a statement, compared with a revised indicative range of 2.35-2.65 dirhams set last week. The company sold 1.25 billion shares, or 10 percent of its share capital. The stock ...

Emaar Development, Dubai’s first big IPO since 2014, falls on debut

Wednesday, 22 November 2017

Shares in Dubai real estate firm Emaar Development fell on their debut on Wednesday in the emirate’s first major listing since 2014. Emaar Development had an initial public offer price of 6.03 dirhams, equal to its net asset value according to an estimate by consultants JLL, which performed an independent valuation before the IPO. But the stock opened lower at 5.61 dirhams and closed at 5.77, down 4.3 percent. Over 48 million shares changed hands. ...

The virtues of workforce diversity

Monday, 20 November 2017

Most companies seem to boast the slogan that “employees are our strength and asset”, but what does this really mean for those that have a more diverse work force that creates both opportunities as well as problems for meeting corporate objectives? Are these slogans empty or real?The biggest obstacles confronting modern organizations relying on many different national workforces, is getting leaders to think about diversity and inclusion as anything than a short term gimmicky issue , ...

Dr. Mohamed A. Ramady

Saudi energy minister: Crackdown will not hit investments

Friday, 17 November 2017

Saudi Arabia’s corruption investigations are linked to a just few individuals and will not hinder investments in the kingdom, its energy minister said on Thursday. Khalid al-Falih said the crackdown was way overdue and would also not have any impact on plans to float shares in oil giant Saudi Aramco. “Everybody understands that this is a limited, domestic affair that the government is simply cleaning house,” he said on the sidelines of the UN climate conference in Bonn, Germany ...

Emaar Properties to raise $1.3 bln in development unit's IPO

Thursday, 16 November 2017

Emaar Development, a unit of Dubai property firm Emaar Properties, priced its initial public offer of shares below the mid-point of an indicative price range, valuing the deal at 4.82 billion dirhams ($1.31 billion) in Dubai's first major IPO in three years. Emaar Development priced the IPO at 6.03 dirhams, according to a company statement on Thursday, against an indicative range of 5.7-6.9 dirhams per share set earlier this month. Emaar Properties is selling a 20 percent stake or 800 million ...

Saudi Aramco IPO on track for second half of 2018, CEO says

Monday, 23 October 2017

Saudi Aramco's initial public offering will take place in the second half of 2018, CEO Amin Nasser said Monday, dismissing reports that the oil giant's plans could be shelved. "We have always said that we will be listing in 2018, and to be more specific, in the second half of 2018," Nasser said in an interview with CNBC television. "The IPO is on track. The listing venue will be discussed and shared in due course," Nasser told the channel in Riyadh. The Aramco chief also said ...

Rumors aside, the Saudi Aramco IPO is on track

Sunday, 22 October 2017

The rumor mills were awash over the past few weeks that the Aramco IPO was either going to be cancelled or postponed. Anonymous sources also stated that the Chinese would buy the whole planned five percent of the planned IPO in a private placement, or that the IPO would be split between the Chinese and the Saudi stock market listing of Aramco. The Saudi oil giant repeatedly issued statements that the IPO was on track for 2018 and that all options were being considered as to an international ...

Dr. Mohamed A. Ramady

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