ShippingWatch

Saudi oil company plans IPO in three places

The initial public offering of Saudi Aramco, which stands to be the biggest ever, will happen on three continents, according to a British newspaper.

Photo: Siemens

In what looks like the biggest Initial Public Offering (IPO) ever, Saudi Arabia is planning to list the national oil company Aramco in London, Hong Kong and New York. The IPO is estimated to be worth up to USD 2,500 billion, reports The Telegraph.

The Saudi authorities hope that this strategy will entice ExxonMobil, China's Sinopec, and potentially BP to make strategic investments in Aramco, thus giving the company longer lasting access the upstream activities in return for new technology and refinery deals.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Shipping in a safe position despite shaky world economy

Container carriers are facing a couple of difficult years, but otherwise the shipping industry looks set to do well despite dark clouds over the world economy, according to shipping analyst. ”Right now, most companies are making a lot of money.”

Further reading

Related articles

Latest news

See all jobs