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Saudi Arabia Calls Off ‘Zombie’ Aramco IPO
You know what? Screw it.
That's apparently the approach Mohammed bin Salman has decided to take when it comes to the highly-anticipated Saudi Aramco listing.
This prospective IPO has been the subject of intense debate for two years running, and early last month, in a lengthy piece, Bloomberg suggested the listing might be a pipe dream (get it? "pipe" dream?). Part of the problem, Bloomberg said, is the U.S. President. To wit, from the linked article:
In early 2016, Mohammed bin Salman sai
So Saudi Aramco shelved… buy Tesla and take it private, move the HQ to SA, have an IPO, pull the same trick but fast enough it works?
I expected with oil prices sort of up for the moment that they would have rushed to market.
Are they expecting oil to get over $100 anytime soon?
I think they weren’t prepared to disclose the required factual listing prospectus information, e.g. rapidly declining oil reserves, etc. Also, the Saudi royal family would lose too much of their current ‘de facto’ international political power.
The taxes were crazy & something about the ownership structure was very strange