Questions hang over Saudi Aramco’s colossal valuation | Financial Times:
Saudi Arabia has been pulling out the stops to entice potential investors in the stock market flotation of its state energy giant, in what could be the world’s biggest ever listing.
From changing royalty payments, cutting tax rates and reducing long-term capital expenditure to ensuring a minimum dividend of $75bn for shareholders, the kingdom has sought the highest possible valuation for Saudi Arabia’s main revenue source.
With earnings of $111bn last year, it dwarfs the profits made by Apple, the largest-listed profit maker in the world. It makes rival ExxonMobil’s net income of $20.8bn look paltry.
Saudi Arabia has been pulling out the stops to entice potential investors in the stock market flotation of its state energy giant, in what could be the world’s biggest ever listing.
From changing royalty payments, cutting tax rates and reducing long-term capital expenditure to ensuring a minimum dividend of $75bn for shareholders, the kingdom has sought the highest possible valuation for Saudi Arabia’s main revenue source.
With earnings of $111bn last year, it dwarfs the profits made by Apple, the largest-listed profit maker in the world. It makes rival ExxonMobil’s net income of $20.8bn look paltry.
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