The oil giant’s first interaction with public investors showcased the firm’s evolution—and the forces that may impede it
call lasted about half an hour and was, by conventional measures, underwhelming. Saudi Aramco, the world’s most profitable company, gave no guidance on capital spending. Its finance chief, Khalid al-Dabbagh, said that dividends must be “affordable”. He did not disclose where or when it might list its shares. The oil giant’s first such interaction with public investors on August 12th was still revealing. It showcased the firm’s evolution—and the forces that may impede it.
The numbers add new detail to the formidable portrait painted by Aramco’s first international bond prospectus in April. The $12bn issue’s success has revived plans to list 5% of Aramco’s shares. Muhammad bin Salman, Saudi Arabia’s crown prince, declared in 2016 that an initial public offering would value the company at more than $2trn, raising $100bn to invest in other sectors. It may come as soon as next year.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Saudi female activist rejected release in exchange for denying being tortured: FamilyLoujain al Hathloul, who has been imprisoned in Saudi Arabia since May 2018 for her work promoting women's rights in the kingdom, has turned down a deal to be released.
Baca lebih lajut »
Saudi Arabia is dramatically changing its oil exports to China and the US. Here's what that meansThe numbers signal a mix of short-term tactics and long-term strategy for the Saudis, industry experts say.
Baca lebih lajut »
Banana Republic Debuts Style PassportThe new subscription service allows shoppers to rent up to three pieces of women’s apparel for $85 a month.
Baca lebih lajut »
Deere trims earnings forecast on trade war woesDeere & Co.'s third-quarter earnings on Friday missed Wall Street estimates...
Baca lebih lajut »
Madonna's Been Rocking the Red Carpet for Thirty YearsIn honor of her birthday, take a look back at some of Madonna's most memorable red carpet moments:
Baca lebih lajut »
Meet Rising Pop Star King PrincessJust before the release of her debut album, KingPrincess69's ascent is inevitable:
Baca lebih lajut »