Tag Archives: IPOs

The United Arab Emirates Brooge Petroleum & Gas Investment Co. plans to float 40 per cent of its capital on the London Stock Exchange in October, BPGIC Vice-Chairman Housam Elemri said on Sunday. BPGIC is looking to raise $400 million (Dh1.47 billion) from Emirati and foreign investors in the IPO, …

PIF, the Saudi Arabian sovereign wealth fund that Tesla Inc CEO Elon Musk has said could help him fund a $72 billion (Dh264 billion) deal to take his electric car maker private, is in talks to invest in aspiring Tesla rival Lucid Motors Inc, people familiar with the matter said …

Elon Musk told investors this week that “obviously, the Saudi sovereign fund has more than enough capital needed” to finance taking Tesla private. The fund is estimated to have over $250 billion in assets. But it is not that simple. The Public Investment Fund (PIF) has many claims on its …

Saudi Aramco is weighing tapping the international bond market for the first time to finance the acquisition of petrochemical giant Sabic, a move into global capital markets that could offer an alternative to an initial public offering, according to people familiar with the talks. If Aramco goes ahead with an …

Saudi Arabia’s willingness to delay the initial public offering of state oil company Aramco to 2019 has several motivations, from regulatory risk to competing projects in the government’s crowded agenda. There’s another, perhaps more significant hurdle: it appears some American investors aren’t that interested. Over the past few weeks, Aramco …

Middle Eastern investment banking fees totalled an estimated $912.4 million during 2017, 0.1 per cent less than the value of fees recorded during 2016, according to data from Thomson Reuters. Debt capital markets (DCM) underwriting fees totalled $256.3 million, up 102 per cent year-on-year and the highest full year total …

The United Arab Emirates (UAE) topped the list of countries in terms of raising capital through initial public offering in 2017. Four companies in the UAE raised a total $1.287 billion in 2017, followed by Saudi Arabia, which raised $663 million, according to a report published by the law firm …

Adnoc Distribution made a strong debut on the Abu Dhabi bourse after its listing on Wednesday following a successful IPO last week. The fuel and retail arm of Abu Dhabi National Oil Company (Adnoc) was officially listed on Abu Dhabi Securities Exchange (ADX) with the stock opening at Dh2.90 compared …

Saudi Arabia’s plans to float state oil titan Aramco are prompting the country to think the unthinkable. Late last year, Saudi Arabia tried to get fellow oil producers around the world to agree to reduce production. Before an OPEC meeting in Vienna in November, Saudi officials were armed with an …

Saudi Arabia’s government assured investors on Saturday that its Vision 2030 economic reform program, including the sale of a stake in national oil giant Saudi Aramco, was on track despite plans to adjust part of it. News this week that Riyadh was revising a section of Vision 2030 known as …