Of course they'll make it right. No doubt KSA will decide to restart the IPO process in a few more years? Or maybe after a decade? Or maybe when market conditions improve? Or perhaps they'll wait until hell freezes over?
rockdoc123 wrote:Aramco is officially stating they are working towards a listing but they will choose the time.
Aramco announced they were working towards an IPO listing three years ago ---but that didn't work out. They couldn't make it happen.
The Aramco announcement a week ago said they were POSTPONING all further work on the IPO. Obviously you don't know what the word "postponing" means....haahahahahah! It means they are shelving the IPO. This is an INDEFINITE POSTPONEMENT. At the moment there is no date set for the IPO process to resume. There aren't even any firm plans for the IPO process to resume.
Saudi Arabia denied media reports that the kingdom has scrapped plans to list shares of state-owned energy giant Aramco on stock exchanges.
Khalid al-Falih, the Saudi Minister of Energy, Industry and Mineral Resources and Chairman of Saudi Aramco, said in a statement on Thursday: "The Government remains committed to the IPO of Saudi Aramco at a time of its own choosing when conditions are optimum."
"This timing will depend on multiple factors, including favorable market conditions, and a downstream acquisition which the Company will pursue in the next few months," al-Falih said.
"The company, for its part, has completed its internal program for IPO preparedness," al-Falih said in his Thursday statement, adding that bylaws had been amended, and the state oil giant has been converted to a joint stock company as Aramco tries to ensure that its internal financial reporting aligns with potential listing venue requirements.
"This is all positive progress on what is a complex process, preparing the company and the Kingdom for what will ultimately be a global landmark market offering of unprecedented quality and scale," the statement said.
Aramco may restart the IPO process at some point in the future, but for now it is shelved.
Nothing officially has changed
Saudi Aramco officially announced that they are indefinitely postponing their plans to do an IPO.
Saudi Aramco officially announced that they are indefinitely postponing their plans to do an IPO.
no, they did not.
they ....will execute at the time that makes the most sense to them.
they will execute at a time of their "own choosing when conditions are optimum".
.Saudi Aramco officially announced that they are indefinitely postponing their plans to do an IPO
Saudi Arabia denied media reports that the kingdom has scrapped plans to list shares of state-owned energy giant Aramco on stock exchanges.
Khalid al-Falih, the Saudi Minister of Energy, Industry and Mineral Resources and Chairman of Saudi Aramco, said in a statement on Thursday: "The Government remains committed to the IPO of Saudi Aramco at a time of its own choosing when conditions are optimum."
"This timing will depend on multiple factors, including favorable market conditions, and a downstream acquisition which the Company will pursue in the next few months," al-Falih said.
And when exactly will that be?
"postponing their plans to do an IPO" is exactly like saying "currently have no plans to do an IPO"
No its not. Postponing the IPO simply means that your claim that the IPO would get done in 2018 is bogus
That makes the reports in the WSJ and other media sources that the IPO may be dead very interesting, as they are consistent with the fact IPO is now indefinitely postponed, with no set time or conditions for it to be restarted.
But for now, at least we know for sure that your claim that the IPO would happen in 2018 is totally, completely and fully bogus.
There is no doubt that the potential acquisition of a strategic stake in SABIC ... will delay the IPO,
As I pointed out ARAMCO was .... committed to doing an IPO but at the time of their choosing.
What we do know is that in spite of ARAMCO's earlier claims and your comically gullible acceptance of whatever ARAMCO says, the ARAMCO IPO scheduled for 2018 isn't happening in 2018, and all your posts insisting the IPO would happen in 2018 have turned out to be utterly, totally and completely untrue.
Do you get it now?
"... committed to doing an IPO but at the time of their choosing." And that statement includes a promise to NEVER DO THE IPO if Aramco/Saudi govt decides there never comes the appropriate time to do the IPO. IOW it has promised that it may never do the IPO.
"The Government remains committed to the IPO of Saudi Aramco at a time of its own choosing when conditions are optimum."
"This timing will depend on multiple factors, including favorable market conditions, and a downstream acquisition which the Company will pursue in the next few months," al-Falih said.
There is no place in that statement that you can come up with a conclusion that ARAMCO promised they would not do an IPO.
Will it happen? Almost certainly...
never said ARAMCO promised they would not do an IPO.
The WSJ is reporting that Saudi Arabia is not going to go through with its plan to sell shares in Aramco and its oil assets
This is consistent with news reports that KSA is telling Trump its impossible for them to raise their production to bring down oil prices.
IF KSA production can't be raised any higher, then that is big red flag.
It suggests KSA has peaked
If KSA is now backing out of their planned IPO because they don't want show anyone else their books...
It suggests KSA oilfields are in trouble, and production is at or near the peak.
Now they are saying forget about that--- they can't do it. And whats more, forget about the IPO they've been preparing too. They're not going to do that either. They don't want anybody else to see the books or check those claims about oil reserves, don't you know, because their claims might be specious and they might get sued for lying about their oil reserves.
Looks like you took quite a few liberties in interpreting that article Plant.
Planty you basically inserted YOUR opinion into why Aramco isn't going forward with their IPO
As has been pointed out by several folks here you just made all of this crap up. Either you have trouble with reading comprehension or you have a very vivid imagination that you like to let run rampant.
- there is no suggestion in the article that the Saudis have cancelled the IPO....you claimed it did
-there is no suggestion in the article the Saudis are worried about making reserve information public....you claimed it did
Thats what you said about ARAMCO doing the IPO in 2018. In post after post after post you insisted everything was on track and ARAMCO would do their IPO in 2018. However, now it is ever so clear that you were wrong. Very wrong. Wrong over and over again. You were totally and completely wrong.
You were wrong wrong wrong wrong and wrong about ARAMCO "certainly" doing their IPO in 2018. hahahahahahah!
so the original rationale for doing the IPO doesn't exist any more.
the original rationale .... was to bring Saudi Arabia into the twenty-first century as a multinational oil and gas company with upstream and downstream capabilities comparable to Exxon Mobil or Shell.
You are talking gibberish. Saudi Arabia is not a multinational oil and gas company as you claim. Saudi Arabia is a country located in the middle east.
OH, dear me, must have been a "typo"....
hold on I'll do it again so it seems familiar to you.
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