Saudi Aramco: The message from the world’s biggest and wildest IPO
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Re: Saudi Aramco: The message from the world’s biggest and wildest IPO
#2Re: Saudi Aramco: The message from the world’s biggest and wildest IPO
#3Paywall so couldn’t read full article. If someone buys during IPO, what prevents Saudi government from just running away with investors money?
Re: Saudi Aramco: The message from the world’s biggest and wildest IPO
#4Paywall so couldn’t read full article. If someone buys during IPO, what prevents Saudi government from just running away with investors money?
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.
Re: Saudi Aramco: The message from the world’s biggest and wildest IPO
#5Paywall so couldn’t read full article. If someone buys during IPO, what prevents Saudi government from just running away with investors money?
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.
This is only listing on Riyadh’s stock exchange
Good luck with jumping through all those hoops to invest and expecting recourse
Re: Saudi Aramco: The message from the world’s biggest and wildest IPO
#6Paywall so couldn’t read full article. If someone buys during IPO, what prevents Saudi government from just running away with investors money?
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.
Re: Saudi Aramco: The message from the world’s biggest and wildest IPO
#7Paywall so couldn’t read full article. If someone buys during IPO, what prevents Saudi government from just running away with investors money?
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.
They might find that a completely acceptable tradeoff for hundreds of billions of dollars. Believing the Saudi government cares about the rule of law is a questionable proposition at best.
Re: Saudi Aramco: The message from the world’s biggest and wildest IPO
#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) (Institutional Subscribers): Institutional subscribers comprise the institutional investors eligible to participate in the book-building process as specified in Annex I
Tranche (B) (Individual Investors): Individual investors comprise Saudi Arabian nationals, including any Saudi female divorcee or widow with minor children from a marriage to a non-Saudi person who can subscribe for her own benefit or in the names of her minor children, on the condition that she proves that she is a divorcee or widow and the mother of her minor children, any non-Saudi natural person who is resident in the Kingdom and any GCC national, in each case who has a bank account with one of the Receiving Entities
Re: Saudi Aramco: The message from the world’s biggest and wildest IPO
#9Earlier 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.
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?
Re: Saudi Aramco: The message from the world’s biggest and wildest IPO
#10The IPO price may be artificially inflated due to pressure on Saudi families to purchase shares:
https://www.ft.com/content/19363bfc-dbc0-11e9-8f9b-77216ebe1...