LIC IPO Investors Said to Bid for Double of Anchor Book - Bloomberg
Life Insurance of Corporation of India’s initial public offering gets bids from large investors for twice the size of the anchor book, according to people with the knowledge of the matter.
The anchor book of 56 billion rupees ($733 million) for the country’s largest public offering of 210 billion rupees will be announced on Monday.
Singapore’s GIC Pte and Norway’s sovereign wealth fund are among the anchor investors, the people said, asking not to be identified before an official announcement. LIC didn’t immediately respond to email seeking comment.
The LIC IPO aims to price shares between 902 rupees and 949 rupees each. Firms in India have raised about $1.1 billion through IPOs this year, data compiled by Bloomberg show. That’s less than half of the almost $3 billion raised in the same period in 2021. The offering runs from May 4 to 9 for other investors.
Sunday, 1 May 2022
#SaudiArabia's economy estimated to grow 9.6% in Q1, driven by oil | Reuters
Saudi Arabia's economy estimated to grow 9.6% in Q1, driven by oil | Reuters
Saudi Arabia's economy grew by 9.6% in the first quarter of 2022, compared to a year earlier, according to flash government estimates on Sunday, as a recovery in the oil sector drove the strongest growth in more than a decade.
During the first quarter, oil activity in Saudi Arabia increased by 20.4% and non-oil activity by 3.7%, the estimates showed.
If the estimates are confirmed, they would mark the highest growth rate since 2011, the Saudi General Authority for Statistics said.
Saudi Arabia's economy grew by 9.6% in the first quarter of 2022, compared to a year earlier, according to flash government estimates on Sunday, as a recovery in the oil sector drove the strongest growth in more than a decade.
During the first quarter, oil activity in Saudi Arabia increased by 20.4% and non-oil activity by 3.7%, the estimates showed.
If the estimates are confirmed, they would mark the highest growth rate since 2011, the Saudi General Authority for Statistics said.
#Saudi, Pakistan to discuss possible support for kingdom's $3 billion deposit | Reuters
Saudi, Pakistan to discuss possible support for kingdom's $3 billion deposit | Reuters
Saudi Arabia and Pakistan will discuss the possibility of supporting the kingdom's $3 billion deposit in Pakistan's central bank by extending its term "or through other options," a joint statement carried by Saudi state news agency SPA said on Sunday.
Last year, Saudi Arabia deposited $3 billion in Pakistan's central bank to help support its foreign reserves. With a yawning current account deficit and foreign reserves falling to as low as $10.8 billion, the South Asian nation is in dire need of external finances.
Pakistan also welcomed a Saudi decision to extend an agreement to finance exports of crude oil products and oil derivatives, SPA reported.
The statement came after a visit by Pakistani Prime Minister Shehbaz Sharif to Saudi Arabia, where he met with Crown Prince Mohammed bin Salman.
Saudi Arabia and Pakistan will discuss the possibility of supporting the kingdom's $3 billion deposit in Pakistan's central bank by extending its term "or through other options," a joint statement carried by Saudi state news agency SPA said on Sunday.
Last year, Saudi Arabia deposited $3 billion in Pakistan's central bank to help support its foreign reserves. With a yawning current account deficit and foreign reserves falling to as low as $10.8 billion, the South Asian nation is in dire need of external finances.
Pakistan also welcomed a Saudi decision to extend an agreement to finance exports of crude oil products and oil derivatives, SPA reported.
The statement came after a visit by Pakistani Prime Minister Shehbaz Sharif to Saudi Arabia, where he met with Crown Prince Mohammed bin Salman.
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