The number of floats in London dropped to a decade-low last year January 15, 2020 Geopolitical uncertainty contributed to a subdued initial public offering (IPO) market in London last year, as listings fell 56 per cent year-on-year. In what was the capital’s quietest year for a decade, just 35 companies floated raising £5.9bn, down from 79 listings raising £9.5bn in 2018. The number of admissions to London’s junior Aim market [...]
Saudi Aramco IPO to be largest in history at $25.6bn December 5, 2019 Saudi Aramco is set to raise a record $25.6bn (£19.5bn) in the largest initial public offering (IPO) in history, as it was reported that the oil giant would price its shares at 32 riyals (£6.50) per share, the top end of its range. The sale price will see Aramco knock Chinese e-commerce giant Alibaba off [...]
Institutional tranche of Saudi Aramco IPO twice oversubscribed December 2, 2019 The institutional tranche of Saudi Aramco’s upcoming initial public offering (IPO) is more than twice oversubscribed, according to the sale’s managers. Investors have put in 144.1bn riyals (£29.7bn) worth of bids since 17 November, around 4.6bn shares. Read more: Saudi Aramco IPO on track as retail tranche oversubscribed The institutional tranche closes at the end [...]
Saudi Arabia pushing Opec for deeper oil production cuts ahead of Aramco IPO December 2, 2019 Saudi Arabia is seeking to push Opec into deepening oil cuts until at least June 2020 as it prepares for December’s listing of Saudi Aramco. Sources told Reuters that Opec and its allies, including Russia, were currently discussing a deal to add 400,000 barrels per day to existing production cuts of 1.2m barrels per day. [...]
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: [...]