The details of the placement of shares Saudi Aramco
the Most profitable company in the world published more details about the planned initial offering of stock (IPOs) on the market. In the long-awaited 600-page Avenue oil giant Saudi Aramco says that the opportunity to buy shares will have individual retail investors and large financial institutions.
the Company has transferred the risks for future investors, including the government's control over oil, and terrorist acts.
Crown Prince Mohammed bin Salman seeks to sell shares to Aramco to raise billions of dollars to diversify oil dependent Saudi economy by investing in non-energy industry.
Income from predict 1.5-2 trillion dollars, making the listing the largest in the history of the stock market.
In the prospectus States that up to 0.5% of the company will be sold to retail investors, and that the company will not issue new shares within six months after IPOs.
Although one of the attractive aspects for investors is the possibility of high dividends, the document said that Aramco has the right to change the dividend policy without prior notice.
Initially it was assumed that in private hands will be sold for about 5% of the state-owned Aramco, but now it is expected that the final figure will be halved.
amid speculation that some foreign institutional investors are neutral for the IPO, the government, according to some media reports, forced the wealthy Saudi business families and institutions to buy shares of Aramco, calling it a Patriotic duty of every Saudi.
Aramco last year received $ 111 billion in net profit. For the first nine months of this year, its net profit fell 18% to $ 68 billion.