Cog wrote:A lot of money is going to be made by someone.
https://www.ft.com/content/27effca4-154 ... e067d5072c
Saudi Arabia has appointed banks to conduct preparatory work on the initial public offering of Saudi Aramco, the world’s largest oil producer, which is aiming to become the most valuable listed company. The state-controlled company has hired JPMorgan, Morgan Stanley and HSBC as financial advisers for the listing, said four people briefed on the matter.
Saudi Arabia is looking to sell as much as a 5 per cent stake in Saudi Aramco, in a listing that could value the company at $2tn, according to officials in the country.
Even if the company is worth just half of that amount it would still set a record for the amount raised in an IPO.
Cog wrote:This is about the only IPO I've considered getting in on.
Cog wrote:Since Aramco is a state owned company, which essentially means its owned by the Saudi royal family, its in their interest that as many institutions and individuals own this stock as possible. Make it as ubiquitous as owning Ford or GE. This gives them some insulation from other governments taking actions which would hurt Aramco and thus the Saudi royals .
Plantagenet wrote:Cog wrote:Since Aramco is a state owned company, which essentially means its owned by the Saudi royal family, its in their interest that as many institutions and individuals own this stock as possible. Make it as ubiquitous as owning Ford or GE. This gives them some insulation from other governments taking actions which would hurt Aramco and thus the Saudi royals .
Who really cares an iota about the Saudi Royal Family?
I'm more worried about people who invest in this offering. The Saudi Royal Family already expropriated Chevron's oil holding in Saudi and turned it into Saudi Aramco----Now they are putting the exact same oilfields (albeit somewhat the worse for wear) back on the market. But whats to prevent them from expropriating the oil holdings again some interval of time after this new stock is issued, and taking back the oil into 100% royal hands for a second time.
But whats to prevent them from expropriating the oil holdings again some interval of time after this new stock is issued, and taking back the oil into 100% royal hands for a second time.
Anyone that cannot see that we are in the midst of an absolutely insane stock market bubble simply does not understand economics. Every valuation indicator that you can possibly point to says that we are in a bubble of epic proportions, and history teaches us that all bubbles inevitably come to an end at some point.
pstarr wrote:onlooker, I see this either of two ways: the investor really believes the artificial intelligence/robotic/tesla hype and believes in the Singularity; or they are feeling particularly apocalyptic and are just cruising to their doom with a big old 'f#ck-all' attitude.
Newfie wrote:That's why I keep saying the percieved wealth of the 1% does not really exist.
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