Aramco

$1.5 trillion IPO up in smoke?

New security fears jeopardize Saudi Aramco’s public stock offering following the attack.

last week Saudi Aramco CEO Amin Nasser told media, the company would list on the Riyadh stock exchange “very soon” as bankers from JP Morgan, Goldman Sachs, Credit Suisse, and Citigroup met in Dubai to kickstart the offering.

The oil giant has delayed its IPO, originally scheduled for 2018, reportedly over Saudi concerns about public scrutiny over its finances and because of the complexity of its corporate structure. Prince Mohammed has touted a valuation of as high as $2 trillion, while a number of bankers recommend a figure closer to $1.5 trillion. The oil price will be key to this.

https://www.cnbc.com

Saudi Arabia oil facility attack launched from Iranian soil, US officials say. – No Proof has been brought forward yet on Iran’s involvement.

“I want to reiterate that the United States wholeheartedly condemns Iran’s attack on the Kingdom of Saudi Arabia and we call on other nations to do the same,” Perry told reporters. “This behavior is unacceptable. It is unacceptable and they must be held responsible.”

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