Saudi Aramco plans $75bn dividend in IPO push | Financial Times:
Saudi Arabia has boosted efforts to woo investors to the long-awaited stock market listing of Saudi Aramco by announcing an annual dividend of $75bn while scaling back global expansion plans at the oil company to increase cash flow.
Riyadh is also planning to change state royalty payments and cut corporation tax as the kingdom pushes to secure a $2tn valuation for the state energy group, five people briefed on the matter said.
Although $1tn-$1.5tn is deemed a more realistic price for the world’s most profitable company, advisers have been aiming for a higher figure to placate Crown Prince Mohammed bin Salman.
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