Saudi Aramco IPO on track as retail tranche oversubscribed November 28, 2019 Retail orders for Saudi Aramco’s upcoming initial public offering (IPO) have reached 38.1bn Saudi riyals (£7.9bn), surpassing expectations for this section of the float. Aramco had set aside one third – roughly a billion – of the shares in its 1.5 per cent offering for retails investors, but lead manager Samba Capital announced today that [...]
Abu Dhabi and Kuwait funds plan investment in Saudi Aramco IPO November 27, 2019 The national investment bodies of Abu Dhabi and Kuwait are planning investments in Saudi Aramco’s upcoming initial public offering (IPO). Multiple sources told Reuters that the Abu Dhabi Investment Authority (Adia) is taking a stake worth at least $1bn (£780m). Any final decision on the size of the investment will need board approval. Read more: [...]
Longboat Energy IPO raises £10m in London debut November 26, 2019 Longboat Energy, a new North Sea oil company, today announced it had raised £10m in its initial public offering on London’s AIM. The company, which is led by the former leadership of Faroe Petroleum, priced the offering at 100p per share. Read more: China’s Sdic power to list in London for up to £640m Blue-chips [...]
China’s Sdic Power to list in London for up to £640m November 26, 2019 Leading Chinese power generation firm Sdic Power today confirmed that it would offer 10 per cent of its shares as global depositary receipts on the London Stock Exchange (LSE). Shanghai-listed Sdic is worth 57.92bn yuan (£6.4bn), which suggests that the offering could be worth up to £640m, according to a source familiar with the transaction. [...]
Saudi Aramco bets on local demand as it cancels European IPO roadshow November 18, 2019 Saudi Aramco this morning cancelled plans for its European roadshow for its long-delayed initial public offering (IPO), a day after doing the same for investor meetings in the US and Asia. The decision, which was reported by the Financial Times, means that shares will not be formally marketed outside of the Gulf. Read more: Saudi [...]
Saudi Aramco set for $1.7 trillion valuation November 17, 2019 Saudi Aramco has released the official price range for its long-awaited initial public offering (IPO) in December, giving the company a preliminary value between $1.6 trillion (£1.24 trillion) to $1.7 trillion. Although this is considerably below the company’s desire for a $2 trillion valuation, it would still make the IPO the world’s biggest. Read more: [...]
Cobham buyer Advent ‘mulls £2.5bn float of industrials firm Rubix’ November 13, 2019 The private equity giant which is in the process of buying British defence firm Cobham for £4bn is said to be mulling a float of another of its UK assets. Advent International, the US investment firm, has reportedly hired advisers to prepare the stock market debut of Rubix Group, a distributor of industrial repair kits, [...]
Saudi Aramco earnings drop $15bn as IPO gets underway November 4, 2019 Saudi Aramco’s income fell by over $15bn (£11.6bn) year-on-year, the company announced this morning, just a day after the oil giant’s long-awaited initial public offering (IPO) got underway. Results for the first nine months of 2019 showed that income slipped from $83.3bn in 2018 to $68.2bn this year, with revenues down from $233.3bn to $217.1bn. [...]
Saudi Aramco IPO gets the green light for December float November 3, 2019 Saudi Aramco finally announced it would begin its long-awaited initial public offering (IPO) this morning after nearly four years of uncertainty and delays. The world’s most valuable company will list on Saudi Arabia’s domestic Tadawul exchange in December, with an international float planned afterwards. Read more: Saudi Aramco to start IPO process on 3 November [...]
Metals firm TNG wants a London Stock Exchange IPO October 23, 2019 Australian strategic metals company TNG today confirmed it is seeking to list on the London Stock Exchange (LSE). As yet, no decision has been taken as to whether TNG will look to raise funds through the initial public offering (IPO), which it expects to complete by 2020. Read more: Boeing’s earnings slump 51 per cent [...]