 |
By (user no longer on site) OP
over a year ago
|
London could lose Saudi Aramco’s $2 trillion IPO to New York over a UK rule it’s trying to change
is it right that FCA should re-write the rule book to get a slice of the pie and will Aramco head to London or New York, there are other options but rumour has it, its one of the above |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
Saudi Arabia’s titanic state-run oil giant Saudi Aramco is looking to list 5% of its shares, which could value the company between $1 trillion (paywall) to $2 trillion. Slated to take place by the second half of 2018, it would be the world’s largest IPO—and everyone wants to try and get a slice of it. (myself included)
.
A dual listing on its home stock exchange and an international one are expected. The main cities in the running are London, New York, Hong Kong, Tokyo, Singapore, and Toronto. Wherever it does end up listing, it will be a boon for the country it launches its IPO in, as it would generate around $1 billion in fees.
But thanks to a rule from Britain’s financial regulator the Financial Conduct Authority, it could be impossible for Saudi Aramco to list on the London Stock Exchange—unless the FCA decided to bend or completely change it in time for the oil giant’s decision. Currently a sovereign-controlled company is required to float a minimum 25% (pdf) of shares in order to make the premium segment on the LSE.
The aim of this quota is to prevent one shareholder from having significant control over the free float. But Saudi Aramco is only looking to list 5%.
New York is believed to be the favorite for the oil giant’s listing and unless Britain’s financial watchdog changes the rules, London has lost its bid. That’s not to say that the FCA is sitting by idly by; this year it launched a consultation into changing the rules related to state-owned firms launching IPOs in Britain. It released a proposal in July but the final decision on the new rules has not yet been made. However, the move has influential British government ministers worried enough to write in to the regulator, potentially creating a roadblock for London trying to claim the Saudi Aramco listing in time.
|
Reply privately, Reply in forum +quote
or View forums list | |
So 67 years after Saudi nationalised its oil production it is now thinking of selling it off again and is looking for some kuffar stupid enough to pay them for something their grandparent took from the kuffars and have been using to finance international terrorism against the kuffars...
There is only one thing better than getting kuffars to pay for war against the kuffars. Getting the dirty, greedy, kuffar shits to pay twice...
Or am I being too harsh on the Saudis? |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oyce69Man
over a year ago
Driffield |
"So 67 years after Saudi nationalised its oil production it is now thinking of selling it off again and is looking for some kuffar stupid enough to pay them for something their grandparent took from the kuffars and have been using to finance international terrorism against the kuffars...
There is only one thing better than getting kuffars to pay for war against the kuffars. Getting the dirty, greedy, kuffar shits to pay twice...
Or am I being too harsh on the Saudis?"
 |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
I follow your "kuffar" logic. And deplore their sponsorship of terrorism in the region.
But at the end of the day...how is upit "kuffar" oil given that it is under their land? |
Reply privately, Reply in forum +quote
or View forums list | |
"I follow your "kuffar" logic. And deplore their sponsorship of terrorism in the region.
But at the end of the day...how is upit "kuffar" oil given that it is under their land?"
I never claimed the oil belonged to anyone. However if a sovereign state invites private enterprise to invest and develop its mineral, industrial, commercial, educational or any other potential, then it is fair to say that that private enterprise has a right to profit from their investment. The state of course has a right to tax profits, but the private enterprise has a right to write it's investment costs off over time. Or if a sovereign state chooses to return its potential to state control then private enterprise should have its investment outlay or the remaining balance of that outlay returned. This is the foundation of equity. As far as I am aware this did not happen when the Saudis nationalised oil production, the Saudis just took everything. Therefore I would say that my original statement pretty much summed up the Saudi attitude to all that refuse to subscribe to their particular brand of Islam. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site) OP
over a year ago
|
"So 67 years after Saudi nationalised its oil production it is now thinking of selling it off again and is looking for some kuffar stupid enough to pay them for something their grandparent took from the kuffars and have been using to finance international terrorism against the kuffars...
There is only one thing better than getting kuffars to pay for war against the kuffars. Getting the dirty, greedy, kuffar shits to pay twice...
Or am I being too harsh on the Saudis?"
You have missed the point Will, its not about "selling off oil" |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
The Saudis have several problems with the entire way they set up around oil.
They've spent a fortune over the last ten years pegging the riyal to the dollar, they have no diversity of income, their market share is being hammered by American fracking and there now in an oil war over production levels apart from that they've constantly told lies about there reserve levels for production quotas so any "sell off" now is Practically impossible to price.
.
And that's just their business problems!.
.
Socially at home there properly under the gun |
Reply privately, Reply in forum +quote
or View forums list | |
» Add a new message to this topic
