Aramco News: What Is Saudi Arabia Oil Giant Worth in IPO? - Bloomberg:
Saudi Arabia’s Crown Prince Mohammed Bin Salman may have lowered his valuation-target for Saudi Aramco as it prepares an initial public offering, but some of the world’s biggest investors say he’s not gone far enough.
Money managers including AllianceBernstein and Frankfurt-based Union Investment Privatfonds believe the energy giant is worth less than the figure of about $1.7 trillion that the prince is now said to be willing to accept, down from $2 trillion initially.
They’re concerned the Saudi government -- which may sell only about 2% of Aramco -- won’t give enough say to minority shareholders. Regional geopolitical risks, which were underscored when the company’s facilities were struck by missiles and drones in September, are also weighing on investors’ calculations.
No comments:
Post a Comment