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Saudi Aramco: The message from the world’s biggest and wildest IPO

economist.com

11–20 of 63 posts

Re: Saudi Aramco: The message from the world’s biggest and wildest IPO

#11

Earlier quoted context omitted.

This is only listing on Riyadh’s stock exchange Good luck with jumping through all those hoops to invest and expecting recourse

what would prevent it from getting rolled up in an ETF and listed on, say, Nasdaq?

that does nothing to protect the underlying asset.

Re: Saudi Aramco: The message from the world’s biggest and wildest IPO

#12
post #4

Earlier quoted context omitted.

Like with sovereign bond defaulters or countries who have nationalised US owned assets: they would get sued in US courts. US courts would freeze and/or confiscate Saudi assets. Saudi Princes might find yatchs, private planes and super cars start getting impounded wherever lawsuits can be filed.

The Saudis engaged in a widely-publicised example of state-sanctioned murder of a US journalist last year with limited repercussions. I’d think twice before trusting in the rule of law where our politically expedient friends are concerned.

Khashoggi wasn't a "US journalist" or a US citizen. He was a Saudi citizen, and he was killed on foreign soil. As despicable as the events were, let's not lose track of the facts here.

WaPo calls him a "Saudi journalist and author": https://www.washingtonpost.com/people/jamal-khashoggi/

If you're appalled by this murder, do recall that our lord and savior Barack Obama droned US citizens he didn't like without trial in Yemen: https://en.wikipedia.org/wiki/Anwar_al-Awlaki

So I'd say such extrajudicial executions are about par for the course for nation states.

Re: Saudi Aramco: The message from the world’s biggest and wildest IPO

#13
The original oil well is probably the ultimate example of how the best ideas often sound completely insane. The basic story is that the guy pitched a bunch of VCs in New Haven in the 1850s and got laughed out of the room for saying that he thought the stuff inside whales was buried under a mountain in Pennsylvania.

Re: Saudi Aramco: The message from the world’s biggest and wildest IPO

#14
post #12

Earlier quoted context omitted.

The Saudis engaged in a widely-publicised example of state-sanctioned murder of a US journalist last year with limited repercussions. I’d think twice before trusting in the rule of law where our politically expedient friends are concerned.

Khashoggi wasn't a "US journalist" or a US citizen. He was a Saudi citizen, and he was killed on foreign soil. As despicable as the events were, let's not lose track of the facts here. WaPo calls him a "Saudi journalist and author": https://www.washingtonpost.com/people/jamal-khashoggi/ If you're appalled by this murder, do recall that our lord and savior Barack Obama droned US citizens he didn't like without trial i…

Hit squads with bone saws sawing people up in their embassies are not par for the course. This was an extreme event. Drone striking ones citizens is extreme too.

Re: Saudi Aramco: The message from the world’s biggest and wildest IPO

#15
post #12

Earlier quoted context omitted.

Khashoggi wasn't a "US journalist" or a US citizen. He was a Saudi citizen, and he was killed on foreign soil. As despicable as the events were, let's not lose track of the facts here. WaPo calls him a "Saudi journalist and author": https://www.washingtonpost.com/people/jamal-khashoggi/ If you're appalled by this murder, do recall that our lord and savior Barack Obama droned US citizens he didn't like without trial i…

Hit squads with bone saws sawing people up in their embassies are not par for the course. This was an extreme event. Drone striking ones citizens is extreme too.

Sure (assuming "bone saws" aren't made up by the Turks - they've never actually been demonstrated). But be that as it may, we're hardly fit to lecture others from our high horse.

Re: Saudi Aramco: The message from the world’s biggest and wildest IPO

#17
post #8

"Intention to float IPO" (official document): https://www.saudiaramco.com/-/media/images/investors/aramco-... If you are wondering about investing.. Offer Highlights: Listing of the Shares will be on the Main Market of Tadawul The Offering is being made available to qualifying Individual Investors and Institutional Investors. The Offering shall be restricted to the following two groups of investors: Tranche (A) (Inst…

Why does Tranche B specifically mention Saudi female divorcees? Is the implication that married and single women aren't allowed to purchase shares, or am I misunderstanding?

Re: Saudi Aramco: The message from the world’s biggest and wildest IPO

#18
post #17
post #8

"Intention to float IPO" (official document): https://www.saudiaramco.com/-/media/images/investors/aramco-... If you are wondering about investing.. Offer Highlights: Listing of the Shares will be on the Main Market of Tadawul The Offering is being made available to qualifying Individual Investors and Institutional Investors. The Offering shall be restricted to the following two groups of investors: Tranche (A) (Inst…

Why does Tranche B specifically mention Saudi female divorcees? Is the implication that married and single women aren't allowed to purchase shares, or am I misunderstanding?

It also looks like thy couldn't subscribe if they don't have children, while presumably Saudi men can subscribe if married to a foreigner, if they have children or not. It's fascinating what goes through the heads (or doesn't) of people writing rules like this.

Re: Saudi Aramco: The message from the world’s biggest and wildest IPO

#19
post #17
post #8

"Intention to float IPO" (official document): https://www.saudiaramco.com/-/media/images/investors/aramco-... If you are wondering about investing.. Offer Highlights: Listing of the Shares will be on the Main Market of Tadawul The Offering is being made available to qualifying Individual Investors and Institutional Investors. The Offering shall be restricted to the following two groups of investors: Tranche (A) (Inst…

Why does Tranche B specifically mention Saudi female divorcees? Is the implication that married and single women aren't allowed to purchase shares, or am I misunderstanding?

Yes, that is the implication. Saudi Arabia oppresses women.

Re: Saudi Aramco: The message from the world’s biggest and wildest IPO

#20
post #17
post #8

"Intention to float IPO" (official document): https://www.saudiaramco.com/-/media/images/investors/aramco-... If you are wondering about investing.. Offer Highlights: Listing of the Shares will be on the Main Market of Tadawul The Offering is being made available to qualifying Individual Investors and Institutional Investors. The Offering shall be restricted to the following two groups of investors: Tranche (A) (Inst…

Why does Tranche B specifically mention Saudi female divorcees? Is the implication that married and single women aren't allowed to purchase shares, or am I misunderstanding?

A married female is the property of her husband, therefore the investment is being made by a non-saudi national if she is married to a foreign national. Just your everyday Saudi sexism.
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