Saudi Arabia does not leak when it comes to the public bid by Saudi Aramco oil giant. With a company IPO of a temporary investment worth $ 2 trillion, call for revenue of about $ 100 billion. Banks were hot.
After acquiring 70% of Saudi Basic Industries Petrochemical Group and a multi-billion dollar bond on the roof, it is currently preparing for Saudi Aramco’s big public offering. According to Saudi Arabia, the IPO will “in the period 2020/2021” on stage.
The IPO was originally planned for 2018. But the deal to buy Saudi Basic worth $ 69 billion hindered this plan. Saudi Aramco’s IPO is valued by banks up to $ 100 billion.
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Therefore, the steps of Saudi Arabian state-owned companies on the exchange are also extremely lucrative for the world’s leading financial institutions. So far, apart from JP Morgan, Morgan Stanley and HSBC only Moelis & Co and Evercore are charged with large IPO. After IPO, Saudi Aramco will become the world’s most valuable company. Sometimes it was priced by analysts about two million dollars.
Trump and the dollar strongly consider oil prices
Oil prices, on the other hand, have come under pressure from Trump’s latest statements. He promised new punitive tariffs on China. In addition, a recent strong dollar weighed heavily on oil prices. Because oil is quoted in dollars and becomes more expensive for non-dollar investors in the world when the greenback rises. For the first time in ten years, the US Federal Reserve cut interest rates again, but at the same time signaled that no new interest rate cut would have been made. Therefore, relatively high interest rates of the US will remain stable in the future and support the local currency.
In addition, some leading indicators have recently weakened, indicating that the global economy is still in crisis mode. In the US, the ISM index fell to its lowest level in two years. In China, the industry Caixin PMI rebounded in July but remained below the 50 mark. This shows economic contraction.
WTI oil price
has failed several times in recent weeks about an outbreak.
Now he has fallen into first aid and has a 200-day line
(red) is also broken. The next prop is quoted at about 50
The dollar is getting closer. Can reverse the trend for the first time
Repair of the year also ended in price tags – it’s still interesting.
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