Oil & Gas
Aramco’s IPO could entice Saudi individuals back to local bourse
(Bloomberg) –Saudi Aramco’s gigantic initial public offering could trigger a return by retail investors to the Riyadh stock exchange as individuals snap up shares in the world’s most profitable company.
The oil behemoth said over the weekend in its offering prospectus that as much as 0.5% of the stock will be allocated to individual investors, while leaving potential buyers in the dark about the size of the stake it plans to sell and the pricing range.
Read: Aramco’s record IPO starts November 17; size of offering pending
Were the company to fetch a valuation of $1.5 trillion — lower than the range aimed for by Saudi Arabia, but closer to estimates by foreign investors — the portion set aside for individuals could be $7.5 billion. Some locals have been selling part of their equity portfolios recently to raise cash for Aramco stock, according to analysts and investors.
Locals were consistent net sellers even before the IPO was confirmed, stepping up their disposals amid rising geopolitical concerns, such as the September drone attacks on Aramco’s oil facilities. Foreigners, on the other hand, have been steady buyers, followed by local institutional funds. This stemmed mostly from the kingdom’s promotion to major emerging-market equity benchmarks, which triggered passive buying by global funds.
–With assistance from Paul Wallace.
-
Insurance2 months agoSupporting Community Wellness: Liva Insurance Sponsors Muscat Marathon 2026 with Free Health Checkups
-
News2 months agoAI Security Conference 2025 Hosted by Securado Highlights the Changing Cybersecurity Landscape
-
Interviews1 month agoEXCLUSIVE INTERVIEW: TLS Rebranding Marks Strategic Leap Toward Innovation, Sustainability & Growth
-
Insurance1 month agoLiva Insurance Supports Community Wellness Through “Experience Oman – Muscat Marathon 2026”
-
Dossier7 days agoDossier, 2026
-
Investment3 weeks agoLalan Inaugurates Its First Overseas Manufacturing Facility, Marking Sri Lanka’s First Investment in SOHAR Freezone
-
Banking & Finance1 week agoNational Finance Unveils Exclusive Ramadan Offers on Auto Financing
-
Food & Dining3 weeks agoGrand Millennium Muscat’s exclusive Ramadan Iftar and Suhoor Experiences
