{"id":545610,"date":"2022-04-05T03:55:25","date_gmt":"2022-04-05T03:55:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/usd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts\/"},"modified":"2022-04-05T03:55:25","modified_gmt":"2022-04-05T03:55:25","slug":"usd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/usd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts\/","title":{"rendered":"USD 1 bn IPO in the works for Aramco subsidiary + the UK wants in on NFTs"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a><strong> Yet another Gulf IPO? Saudi Aramco subsidiary Luberef is looking to make its <\/strong><strong>Tadawul debut <\/strong>in an IPO that could raise over USD 1 bn, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-04-04\/saudi-aramco-s-luberef-refinery-is-said-to-plan-1-billion-ipo?srnd=premium-middle-east&sref=mmeFTDW1\">Bloomberg<\/a>reports citing people familiar with the matter. The company reportedly plans to sell a 30% stake currently owned by <a href=\"https:\/\/www.jadwa.com\/\">Jadwa Investment<\/a> and has tapped the local unit of HSBC and SNB Capital to advise on the move. Surging oil prices are helping the Gulf lead <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bdd8bf22-5ae2-4aa6-90d7-2eb0e664789d\">an IPO boom<\/a> in the MENA region, helping it to surpass the European IPO market for only the second time since the global financial crisis (the other time being 2019, when Aramco made its whopper USD 30 bn debut).<\/p>\n<p><strong>The British government jumps on the NFT bandwagon: <\/strong>The UK\u2019s state-owned coin producer <a href=\"https:\/\/www.royalmint.com\/\">Royal Mint<\/a> will create and issue its own NFT by the summer, according to a <a href=\"https:\/\/www.gov.uk\/government\/news\/government-sets-out-plan-to-make-uk-a-global-cryptoasset-technology-hub\">statement<\/a>. \u201cThis is part of our plan to ensure the UK financial services industry is always at the forefront of technology and innovation,\u201d Chancellor Rishi Sunak said. The country is also looking to recognize stablecoins \u2014 cryptocurrencies backed (and priced) against the value of existing currencies or commodities \u2014 as a valid form of payment, as it looks to position itself as a global crypto hub.<\/p>\n<p><strong>In other financial news:<\/strong><\/p>\n<ul>\n<li><strong>The London Metal Exchange is <\/strong><strong><a href=\"https:\/\/www.fca.org.uk\/news\/statements\/uk-financial-regulation-authorities-london-metal-exchange-lme-clear\">facing a probe<\/a><\/strong> into its handling of the nickel market last month, when it was forced to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dff62b40-9b9e-4848-a8ab-0031c7c19441\">suspend trading<\/a> twice due to historic price swings triggered by Russia\u2019s invasion of Ukraine.<\/li>\n<li><strong>JPMorgan could lose USD 1 bn \u201cover time\u201d due to its direct exposure to <\/strong><strong>Russia<\/strong>, and is also concerned about secondary impacts from sanctions and Russian moves in response, bank CEO said in his <a href=\"https:\/\/reports.jpmorganchase.com\/investor-relations\/2021\/ar-ceo-letters.htm\">annual letter to shareholders<\/a>.<\/li>\n<\/ul>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11,529<\/p>\n<\/td>\n<td>\n<p>-0.3% (YTD: -3.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.21<\/p>\n<\/td>\n<td>\n<p>Sell 18.31<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 18.19<\/p>\n<\/td>\n<td>\n<p>Sell 18.29<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>9.25% deposit<\/p>\n<\/td>\n<td>\n<p>10.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>13,165<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +16.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>10,057<\/p>\n<\/td>\n<td>\n<p>+1.3% (YTD: +18.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,520<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +10.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,583<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -3.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,559<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: +2.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,951<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: -8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 107.53<\/p>\n<\/td>\n<td>\n<p>+3.0%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.78<\/p>\n<\/td>\n<td>\n<p>+1.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,937.60<\/p>\n<\/td>\n<td>\n<p>+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 46,435<\/p>\n<\/td>\n<td>\n<p>-1.8% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>The EGX30 fell 0.3% at yesterday\u2019s close<\/strong> on turnover of EGP 907.64 mn (7% below the 90-day average). Foreign investors were net sellers. The index is down 3.5% YTD.<\/p>\n<p><strong>In the green: <\/strong>Medinet Nasr Housing (+6.14%), MM Group (+5.24%) and Palm Hills (+4.1%).<\/p>\n<p><strong>In the red: <\/strong>EFG Hermes (-2.6%), Fawry (-2.2%) and AMOC (-2.0%).<\/p>\n<p><strong>Asian markets are largely up in early trading this morning<\/strong>, while futures suggest Wall Street will open in the red. The UK\u2019s FTSE 100 index and the Euro Stoxx 500 also look set to drop on open, even as most European indexes were up ahead of the day\u2019s trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yet another Gulf IPO? Saudi Aramco subsidiary Luberef is looking to make its Tadawul debut in an IPO that could raise over USD 1 bn, Bloombergreports citing people familiar with the matter. The company reportedly plans to sell a 30% stake currently owned by Jadwa Investment and has tapped the local unit of HSBC and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[394,1622,72,119,182,78,262,1388,1621,649,1387,122,1134,218,112],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-545610","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-aramco","tag-crypto-regulation","tag-enterpriseam","tag-financial-markets","tag-inflation","tag-ipo-watch","tag-jpmorgan","tag-london-metal-exchange","tag-luberef","tag-nfts","tag-nickel","tag-planet-finance","tag-tadawul","tag-turkey","tag-uk","wpautop","entry"],"acf":{"mongo_id":"807d5d6c-807e-418e-b531-cd427e54d1be","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[545590],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>USD 1 bn IPO in the works for Aramco subsidiary + the UK wants in on NFTs - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/usd-1-bn-ipo-in-the-works-for-aramco-subsidiary-the-uk-wants-in-on-nfts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USD 1 bn IPO in the works for Aramco subsidiary + the UK wants in on NFTs\" \/>\n<meta property=\"og:description\" content=\"Yet another Gulf IPO? Saudi Aramco subsidiary Luberef is looking to make its Tadawul debut in an IPO that could raise over USD 1 bn, Bloombergreports citing people familiar with the matter. 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Saudi Aramco subsidiary Luberef is looking to make its Tadawul debut in an IPO that could raise over USD 1 bn, Bloombergreports citing people familiar with the matter. 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Luberef will offer\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/73.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577577,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/28\/aramcos-luberef-to-make-its-tadawul-debut-in-transaction-worth-as-much-as-usd-1-bn\/","url_meta":{"origin":545610,"position":1},"title":"Aramco\u2019s Luberef to make its Tadawul debut in transaction worth as much as USD 1 bn","author":"enterpriseam admin","date":"28 November 2022","format":false,"excerpt":"Saudi Aramco subsidiary Luberef plans to go public by selling a c.30% stake on the Tadawul, according to the company\u2019s intention to float (pdf). Jadwa Industrial Investment Company is the selling shareholder, while Saudi Aramco will retain its 70% stake in the company, the ITF reads. Luberef plans to announce\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543936,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/24\/aramco-sells-49-stake-in-its-natgas-pipelines-fab-lines-up-usd-500-mn-in-sukuk\/","url_meta":{"origin":545610,"position":2},"title":"Aramco sells 49% stake in its natgas pipelines + FAB lines up USD 500 mn in sukuk","author":"enterpriseam admin","date":"24 February 2022","format":false,"excerpt":"Aramco closes USD multi-bn sale of minority stake in natgas pipelines: An investor group led by BlackRock has acquired a 49% stake in Saudi Aramco\u2019s natgas pipelines subsidiary for USD 15.5 bn, as the two firms enter into a pact to explore low carbon energy projects. (Bloomberg)FAB plans sukuk sale:\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":586563,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/ades-international-aramco-trading-reportedly-push-saudi-ipos\/","url_meta":{"origin":545610,"position":3},"title":"ADES International, Aramco Trading reportedly push Saudi IPOs","author":"enterpriseam admin","date":"14 May 2023","format":false,"excerpt":"Gulf IPOs are down this year amid a decline in oil prices","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/717.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592681,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/04\/its-official-saudi-aramcos-ipo-is-now-underway\/","url_meta":{"origin":545610,"position":4},"title":"It\u2019s official: Saudi Aramco\u2019s IPO is now underway","author":"enterpriseam admin","date":"4 November 2019","format":false,"excerpt":"It\u2019s official: Saudi Aramco\u2019s IPO is now underway, with the Saudi Capital Market Authority officially approving the share sale yesterday. Aramco Chairman Yasir Al-Rumayyan said at a presser yesterday that Aramco\u2019s valuation would be determined during the investor roadshow and bookbuilding process, Bloomberg reports \u2014 par for the course. 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