{"id":614428,"date":"2024-02-01T00:00:00","date_gmt":"2024-02-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/"},"modified":"2024-02-01T00:00:00","modified_gmt":"2024-02-01T00:00:00","slug":"saudi-aramco-could-float-more-shares-on-tadawul","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/","title":{"rendered":"Saudi Aramco could float more shares on Tadawul"},"content":{"rendered":"

More Aramco shares up for grabs? <\/strong>Saudi Aramco will reportedly move forward with stalled plans to list more shares on the Tadawul \u2014 in what is set to be one of the biggest share sales in recent years, sources told Bloomberg<\/a>. The oil giant is looking to raise at least SAR 40 bn (USD 10 bn) in proceeds from the offering. <\/p>\n

Aramco made its Tadawul debut in 2019<\/strong>, raising over USD 29 bn in what remains to be the biggest IPO in history. The company floated a 1.5% stake for a top of the range price of SAR 32 a piece in a transaction that valued the company at USD 1.87 tn.<\/p>\n

The Enterprise take: <\/strong>Aramco would have to float 1.3 bn shares if it were to raise the minimum target of SAR 40 bn at yesterday\u2019s closing share price. The share price fell 2.2% to SAR 30.6 per share on yesterday\u2019s close.<\/p>\n

ALSO WORTH NOTING-<\/strong><\/p>\n

#1- World\u2019s largest sovereign fund had a bumper year: <\/strong>Norway's USD 1.6 tn sovereign wealth fund \u2014 the world\u2019s largest \u2014 reported record gains of NOK 2.2 tn (USD 213 bn) over 2023, driven by strong returns on investments. This is a stark contrast to the record losses the fund saw in 2022. (Statement<\/a> | CNBC<\/a>)<\/p>\n

#2- Binance customers wary: <\/strong>Beleaguered crypto exchange Binance will allow select traders to hold their assets with independent banks outside of the platform as customers seek safehaven custodians with regulatory oversight. (Financial Times<\/a>)<\/p>\n

#3- China embarks on banking shake-up: <\/strong>Hundreds of Chinese rural banks will soon merge into regional lenders as part of a consolidation push, as the country\u2019s deepening property crisis has placed pressures on its USD 6.7 tn banking sector. (Bloomberg<\/a>) <\/p>\n

<\/a><\/a> <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

28,282<\/p>\n<\/td>\n

\n

-6.8% (YTD: +13.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 30.83<\/p>\n<\/td>\n

\n

Sell 30.96<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 30.85<\/p>\n<\/td>\n

\n

Sell 30.95<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

19.25% deposit<\/p>\n<\/td>\n

\n

20.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

11,797<\/p>\n<\/td>\n

\n

-1.6% (YTD: -1.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9,508<\/p>\n<\/td>\n

\n

-0.1% (YTD: -0.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

4,169<\/p>\n<\/td>\n

\n

0.0% (YTD: +2.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,846<\/p>\n<\/td>\n

\n

-1.6% (YTD: +1.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,631<\/p>\n<\/td>\n

\n

-0.5% (YTD: -1.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

4,648<\/p>\n<\/td>\n

\n

-0.3% (YTD: +2.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 81.71<\/p>\n<\/td>\n

\n

-1.4%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 2.13<\/p>\n<\/td>\n

\n

+1.6%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 2,057<\/p>\n<\/td>\n

\n

-0.5%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 42,578<\/p>\n<\/td>\n

\n

-1.8% (YTD: +0.8%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 fell 6.8% at yesterday\u2019s close<\/strong> on turnover of EGP 8.4 bn (148.2% above the 90-day average). Foreign investors were net buyers. The index is up 13.6% YTD.<\/p>\n

In the red: <\/strong>Oriental Weavers (-15.9%), Talaat Moustafa Group (-15.3%), and Credit Agricole (-14.3%).<\/p>\n

Asian markets are mixed in early trading this morning <\/strong>after the US Federal Reserve yesterday poured cold water on expectations that it could start cutting interest rates as early as March. The ASX 200, Nikkei, and Shanghai were all in the red, while the Kospi and Hang Seng are (just barely) clinging to the green. Futures point to a soft opening in Europe, with most major benchmarks in the red, while Wall Street could shrug off concerns \u2014 futures for the Dow, Nasdaq, and S&P 500 are all in the green at dispatch time this morning. <\/p>\n","protected":false},"excerpt":{"rendered":"

The oil giant is reportedly targeting at least SAR 40 bn in proceeds<\/p>\n","protected":false},"author":1,"featured_media":614429,"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":[394,72,119,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-aramco","tag-enterpriseam","tag-financial-markets","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"b4fb8522-a56b-4519-899d-62f9762e961d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2794.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aramco could float more shares on Tadawul","related_issue":[614407],"teaser":"The oil giant is reportedly targeting at least SAR 40 bn in proceeds","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.b0e829f8-a339-455c-b6a8-342f83f2e536.mp3"},"yoast_head":"\nSaudi Aramco could float more shares on Tadawul - 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\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi Aramco could float more shares on Tadawul\" \/>\n<meta property=\"og:description\" content=\"The oil giant is reportedly targeting at least SAR 40 bn in proceeds\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-01T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2794.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Saudi Aramco could float more shares on Tadawul\",\"datePublished\":\"2024-02-01T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/\"},\"wordCount\":469,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2794.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Aramco\",\"EnterpriseAM\",\"Financial Markets\",\"Planet Finance\"],\"articleSection\":[\"PLANET FINANCE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/01\/saudi-aramco-could-float-more-shares-on-tadawul\/\",\"name\":\"Saudi Aramco could float more shares on Tadawul - 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Shares rose 13% in Abu Dhabi to AED 2.95 and\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/262.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577783,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/05\/aramcos-base-oils-subsidiary-could-raise-up-to-usd-1-3-bn-in-its-ipo-in-riyadh\/","url_meta":{"origin":614428,"position":1},"title":"Aramco\u2019s base oils subsidiary could raise up to USD 1.3 bn in its IPO in Riyadh","author":"enterpriseam admin","date":"5 December 2022","format":false,"excerpt":"Aramco subsidiary could raise as much as USD 1.3 bn in its IPO: Saudi Aramco refining subsidiary Luberef commenced bookbuilding for its debut on the Saudi stock exchange at a price range of SAR 91-99 (USD 24.21-26.34) per share yesterday, the company said in a statement (pdf). Luberef will offer\u2026","rel":"","context":"In "PLANET FINANCE"","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":548606,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/15\/aramco-profits-surge-90-in-2q-2022\/","url_meta":{"origin":614428,"position":2},"title":"Aramco profits surge 90% in 2Q 2022","author":"enterpriseam admin","date":"15 August 2022","format":false,"excerpt":"EARNINGS WATCH- #1- Saudi Aramco\u2019 posts record net income amid spiraling oil prices: Saudi Aramco reported record 2Q 2022 and 1H 2022 earnings on the back of soaring crude oil prices and volumes sold, the company said in its earnings release (pdf) yesterday. The oil giant\u2019s net income soared 90%\u2026","rel":"","context":"In "PLANET FINANCE"","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":555652,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/saudi-stock-exchange-to-raise-up-to-usd-1-bn-in-upcoming-ipo\/","url_meta":{"origin":614428,"position":3},"title":"Saudi stock exchange to raise up to USD 1 bn in upcoming IPO","author":"enterpriseam admin","date":"22 November 2021","format":false,"excerpt":"The company that owns Saudi\u2019s Tadawul stock exchange is set to raise up to USD 1.01 bn in its upcoming IPO, according to a statement (pdf) by the operator. The Riyadh-based bourse plans to sell a 30% stake (equivalent to 36 mn shares), setting an indicative price range of SAR\u2026","rel":"","context":"In "PLANET FINANCE"","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":616784,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/11\/an-almost-record-year-for-saudi-aramco-despite-waning-oil-prices-and-production-cuts\/","url_meta":{"origin":614428,"position":4},"title":"An almost record year for Saudi Aramco, despite waning oil prices and production cuts","author":"enterpriseam admin","date":"11 March 2024","format":false,"excerpt":"Saudi\u2019s Aramco recorded its second-highest net income in 2023, despite falling 25% y-o-y to USD 121 bn on waning oil prices and lower output, according to the oil giant\u2019s latest earnings release (pdf). The firm\u2019s revenues also decreased by 18% y-o-y to USD 440 bn over the same period, the\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/835.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621806,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/03\/aramco-secondary-offering-sells-out-within-hours\/","url_meta":{"origin":614428,"position":5},"title":"Aramco secondary offering sells out within hours","author":"enterpriseam admin","date":"3 June 2024","format":false,"excerpt":"Aramco\u2019s blockbuster secondary share sale was fully covered just \u201chours\u201d after kicking off yesterday, Bloomberg reports, citing a document it saw. The oil giant\u2019s offering met with sharp investor appetite and will see the transaction fully covered \u201cwithin the price range,\u201d Reuters reports, citing one of the banks working on\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/161.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/614428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=614428"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/614428\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/614407"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/614429"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=614428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=614428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=614428"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=614428"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=614428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}