Saudi Leaks
  • العربيةالعربية
  • FrançaisFrançais
No Result
View All Result
  • Home
  • News
  • Saud House Crimes
    • Saudi Mercenaries
    • Saudi Plots
  • Prisoners of Conscience
  • Yemen War
  • Economy
  • Politicization of the Holy Mosques
  • Tribes Marginalization
  • Home
  • News
  • Saud House Crimes
    • Saudi Mercenaries
    • Saudi Plots
  • Prisoners of Conscience
  • Yemen War
  • Economy
  • Politicization of the Holy Mosques
  • Tribes Marginalization
No Result
View All Result
Saudi Leaks
No Result
View All Result
Home Economy

Mohammed bin Salman failed to underwriting Aramco internally and externally

21 October، 2019
in Economy
Mohammed bin Salman failed to underwriting Aramco internally and externally
0
SHARES
12
VIEWS
Share on facebookShare on twitterShare on whatsapp

State oil giant Aramco has decided to postpone the launch of its initial public offering, a new failure for Mohammed bin Salman and his 2030 economic vision.

Aramco officials said they “want to do everything in their power to reach the target value… and strong results after the attack will put them in a stronger position,” referring to the attack on two oil facilities in the Kingdom on September 14.

مواضيع متعلقة

Nine Israeli athletes participate secretly in Dakar Rally

Biden should reverse Trump’s bombs sales to Saudi Arabia

Reuters: Saudis vowed to stop executing minors; some death sentences remain, rights groups say

Aramco was expected to officially announce next week its plan to launch its IPO, which is likely to raise $ 20 billion.

Aramco’s Abqaiq and Khurais oil facilities have been targeted by drones and missiles on their infrastructure, resulting in a brief shutdown of more than half of the company’s oil production.

The attack caused a huge loss to the Kingdom’s economy, amounting to about 5.7 million barrels per day of production, where the Yemeni Houthi group claimed responsibility for the attack, while Riyadh and Washington accused Iran of launching, which Tehran denied as without evidence.

Aramco’s listing on the exchange was considered the biggest operation of its kind in the global economy, with the company’s value ranging from $ 1.5 trillion to $ 2 trillion, in what is reported to be overvalued.

In September, informed sources reported that the Saudi authorities were considering the possibility of delaying the IPO of Aramco after the attack on its oil facilities and caused the suspension of pumping more than half of its production.

Aramco’s IPO is part of Crown Prince Mohammed bin Salman’s plan to diversify the Kingdom’s economy away from oil.

The company plans to offer 5% of its shares in the IPO, but the process has been repeatedly delayed due to several reasons, including low oil prices, according to economic observers.

On October 7, Fitch downgraded Aramco’s credit rating from A+ to A.

“The downgrade took into account the growing geopolitical tensions in the region, as well as the country’s continuing budget deficit, among other factors,” Fitch (New York-based) said in a statement.

At the end of September, Fitch downgraded the Kingdom’s rating to “A” from “A +” with a stable outlook.

Fitch has previously estimated that the attack would have a very limited impact on Saudi Aramco’s financial and operating performance in 2019.

ShareTweetSend
saudileaks

saudileaks

  • 4.1k Fans
  • 79 Followers
  • 33k Followers
  • 82.6k Subscribers
  • Trending
  • Comments
  • Latest
أوباما في كتابه الجديد: النظام السعودي مسؤول عن الإرهاب

أوباما في كتابه الجديد: النظام السعودي مسؤول عن الإرهاب

26 November، 2020
فضائح علاقات نسائية متوالية لمحمد بن سلمان

فضائح علاقات نسائية متوالية لمحمد بن سلمان

1 November، 2019
تحطيم تماثيل هيئة الترفيه في المملكة.. رسالة احتجاج إضافية

تحطيم تماثيل هيئة الترفيه في المملكة.. رسالة احتجاج إضافية

1 November، 2019
فضيحة جديدة في موسم الرياض تثير الغضب في المملكة

فضيحة جديدة في موسم الرياض تثير الغضب في المملكة

16 November، 2019
Norway

Norway blocked Saudi request to give diplomatic immunity to ‘security team’

Houthis

Yemen’s Houthis say Saudi pilots will only be exchanged for Palestinian prisoners

US Congress Rejects Arms Sales to Saudi

US Congress Rejects Arms Sales to Saudi

Human Rights institute calls for international investigation into conditions conscience prisoners in Saudi prisons

Human Rights institute calls for international investigation into conditions conscience prisoners in Saudi prisons

Dakar Rally

Nine Israeli athletes participate secretly in Dakar Rally

18 January، 2021
bombs

Biden should reverse Trump’s bombs sales to Saudi Arabia

18 January، 2021
death

Reuters: Saudis vowed to stop executing minors; some death sentences remain, rights groups say

18 January، 2021
Netanyahu

Saudi Arabia ‘ignoring’ Israel as punishment for leaking secret Netanyahu-MbS meeting

16 January، 2021

latest news

Dakar Rally

Nine Israeli athletes participate secretly in Dakar Rally

18 January، 2021
bombs

Biden should reverse Trump’s bombs sales to Saudi Arabia

18 January، 2021
Saudi Leaks

© 2019 Saudi Leaks

browse site

  • Home
  • News
  • Saud House Crimes
  • Prisoners of Conscience
  • Yemen War
  • Economy
  • Politicization of the Holy Mosques
  • Tribes Marginalization

follow us

No Result
View All Result
  • Home
  • Saud House Crimes
    • Saudi Mercenaries
    • Saudi Plots
  • Prisoners of Conscience
  • Yemen War
  • Economy
  • Politicization of the Holy Mosques
  • Tribes Marginalization
  • العربيةالعربية
  • FrançaisFrançais

© 2019 Saudi Leaks

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In