
- apa.az
- Industry and Energy
Saudi Aramco issues IPO prospectus
According to the largest state-run oil company in the Kingdom, the prospectus confirms to offer up to 0.5 percent of its shares to individual investors, adding that selling shareholders will receive all of the proceeds of the offering and will reimburse Saudi Aramco for all fees, costs and expenses in incurs, APA reports citing Sputnik.
The document also stresses that the company will be prohibited from listing additional shares for a period of six months after the commencement of trading of the shares on the exchange.
Last week, the nation's Capital Markets Authority announced that they had agreed to approve Saudi Aramco's request to partially place its shares; first on the local Tadawul stock market, and then abroad, placing a total of 5 percent of the company's shares.
According to media reports, the start of collecting investors' applications is expected on 4 December, while the trading of shares will commence on 11 December.
Security concerns in the region may reportedly take the shine off the upcoming listing on the kingdom’s stock exchange.
The company’s oil facilities in Abqaiq and Khurais were attacked and partially destroyed in September, which temporarily cut Saudi oil production by half and resulted in a decrease of 5 percent in world oil output. The facilities have been largely repaired but concern over vulnerability remains, especially amid persistent tension between Saudi Arabia and its neighbors.
Faiq Mahmudov
Other news
NEWS FEED
JPMorgan seeks $1 billion for mezzanine debt fund
Canadian Pacific crude train derails, catches fire in Saskatchewan
Putin: "Meeting with Zelensky held in a "good and business-like" atmosphere"
U.N. Security Council to meet over North Korea on Wednesday at U.S. request
Volkswagen charged with violating vehicle emission standards in Canada
Erdogan: "We will decide on our own and won't ask anyone for permission"
Foreign Minister Elmar Mammadyarov received the newly appointed Ambassador of Algeria to Azerbaijan
Putin and Zelensky meet in Paris
Normandy Four leaders finish summit on Ukrainian settlement
Kremlin spokesman: Normandy Four leaders discussing draft of joint document
Moscow court sentences participant in July 27 unauthorized rally to 3 years behind bars
Amazon lawsuit blames Trump for loss of Pentagon cloud contract
Azerbaijani FM receives Pakistani Ambassador upon the termination of his diplomatic tenure
Saudi Aramco IPO proceeds rise to $29.4 billion after option exercised
Normandy Four summit kicks off in Paris
Japan PM Abe says in discussions about possible Japan visit by Iranian President Rouhani
US slaps sanctions on 17 individuals, 29 entities from Serbia, Cyprus, Venezuela and Latvia
Website established in Turkey to respond to false Armenian genocide claims
Russia ready to consider Trump's idea on new nuclear disarmament treaty
Medvedev commented on WADA decision
MoD: Implementation of joint Azerbaijani-Turkish-Qatari military exercises is not on roadmap
Medical products production plant established in Baku
Turkish Defense Minister: "NATO stronger, more meaningful with Turkey"
Number of Chinese visiting Azerbaijan increases by over 63 percent
Smoking, occurred in Embassy of Iran in Azerbaijan prevented to turn to fire
Russian President Vladimir Putin arrives in French capital Paris, for Normandy Four talks
Presentation of Ighdir as Armenian city by Armenia’s TV channel arouses discontent in Turkey
Civic Solidarity Party to participate in early parliamentary elections
WADA: Russia cannot compete at 2022 World Cup under own flag
Zarif deplores level of EU commitment to JCPOA
BP: “Preparation for exploration drilling is underway in Shafag-Asiman block”
Helicopter service center established in Azerbaijan - PHOTO
Russia to test robot for radioactive waste disposal in early 2020
Tsereteli: “Processes in Azerbaijan are encouraging”
Elections to Supreme Assembly of the Nakhchivan Autonomous Republic to be held
Azerbaijani President extends condolences to his Ukrainian counterpart
Putin-Zelensky meeting’s timeframe depends on leaders, Kremlin aide says
No consent given to importation in Azerbaijan of 50 titles of religious literature this year
Shahin Mustafayev: Volume of cargo transportations through North-South corridor increases by over 60% this year
12 killed, 91 wounded as truck container overturns in Nigeria
New composition of Supervision Board of SOFAZ approved
OSCE PA President: "Nagorno Garabagh conflict which painful for Europe, should be resolved”
Vyacheslav Koloskov: "I'm firmly sure that WADA ban will not affect football"
Iran, Turkey discuss regional, int'l topics
TAP Consortium: “Azerbaijani gas will be ready to be transported to Europe by October of next year”
Training sessions are conducted with the command staff of the Azerbaijan Army - PHOTO
Bomb explosion in Turkey killed 2, injured 7
Turkish President criticized French President
Three documents on economic cooperation signed between Azerbaijan and Russia - PHOTO
Russia banned for four years to include 2020 Olympics and 2022 World Cup

VIDEO NEWS


Cadets of the Azerbaijan Military Academy started field training - VIDEO

Azerbaijani Defense Minister got acquainted with construction work in military units in the frontline zone - VIDEO

Defense Minister of Azerbaijan inspected combat readiness of artillerymen in the frontline zone - VIDEO

Stoltenberg holds news conference after NATO summit - LIVE

PHOTO NEWS

First Vice-President Mehriban Aliyeva attended opening ceremony of rebuilt Azerbaijan pavilion at Exhibition of Achievements of National Economy in Moscow - UPDATED

Open Doors Day and the military oath-taking ceremony were held on the occasion of the State Flag Day

An exhibition that also presents President Ilham Aliyev's photo opened in Moscow

Azerbaijani President and first lady inaugurated Koroglu Transport Exchange Center of Baku Transport Agency - UPDATED

Mariya Stadnik secures World Champion title after 10 years - PHOTOSESSİON
Archive
TOP 5
Azerbaijan presents its position regarding the peaceful settlement of Nagorno Garabagh conflict in Bratislava
SOCAR’s new Vice-President appointed
Explosion at Sudan factory kills 24, injures dozens - UPDATED