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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (18267)	2/21/2017 2:42:55 PM
From: Goose94	Read Replies (1) \| Respond to of 202720

Saudi Aramco IPO prefers western stock exchange. The Wall Street Journal reported that Saudi Arabia is leaning towards a western stock exchange when it lists its state-owned oil company. The plan is a partial IPO of about 5 percent of the company, which could allow the kingdom to take in more than $100 billion. Saudi officials looked at exchanges around the world but decided against one in Asia. Now officials are looking at New York, London and Toronto, with New York as the leading candidate. The IPO could be the largest ever. However, because the company is state-owned, it will be difficult to disentangle its finances from the Saudi government. Roughly 90 percent of Aramco’s profits go into government coffers and the royal family certainly takes its share as well. Only about 10 percent of the profits are reinvested in the company. The complexity of this situation is likely to push the IPO off until late 2018 at the earliest, or more likely 2019, the WSJ says