Invest
Do you want to invest in a company bigger than Apple?
Investors have been given the opportunity to own a piece of a company that is larger than Apple, as a natural resource is floated on the stock exchange.
Do you want to invest in a company bigger than Apple?
Investors have been given the opportunity to own a piece of a company that is larger than Apple, as a natural resource is floated on the stock exchange.
Saudi Arabia has sold a proportion of Saudi Aramco (SA), the national petroleum and natural gas company for US$25.6 billion.
Saudi Aramco priced its shares at 32 riyals (US$8.53) and raised just a little more than previous record holder Jack Ma’s Alibaba (US$25 billion) to become the largest IPO in history.
It also makes it the most valuable company in the world, with a $1.7 trillion valuation – a little ahead of Apple, which sits at a comfortable $1.15 trillion.
That was primarily achieved by domestic and regional investors after international investors baulked at the opportunity to buy shares in an oil company that was in the crosshairs of Yemeni rebels.
Aramco earned $111 billion in 2018, according to the prospectus, which is roughly double what Apple did by producing 13.6 million barrels per day of oil equivalent.
The money will go to Crown Prince Mohammed bin Salman’s to turn the Kingdom of Saudi Arabia into an international tourism and entertainment hub, as the country looks to divest part of its economy away from oil.
According to the Crown Prince Mohammed bin Salman, they will build a city from scratch that will be administered by artificial intelligence as part of its tourism drive.
The road to the IPO was plagued with problems, including a drone attack that cut SA’s profits in half and the company’s chairman chucking a temper tantrum when a couple of multinational banks told him SA wasn’t worth $2 trillion.
RELATED ARTICLES
About the author
About the author
Stock market
Webull launches Webull Connect, revolutionising access for Australian financial advisers
In a significant move that marks its entry into the Australian wealth management sector, Webull Securities (Australia) Pty Ltd, a subsidiary of the Nasdaq-listed Webull Corporation, has unveiled its ...Read more
Stock market
Future Generation Global boosts dividends with special payout, marking significant yield increase
Future Generation Global (ASX: FGG) has announced a significant boost to its dividend offerings for the year 2025, delighting shareholders with an increased fully franked full-year dividend and an ...Read more
Stock market
6K Additive secures A$48 million through initial public offering on the Australian Stock Exchange
6K Additive, a prominent player in the advanced metal powders and alloy additions market, has made a significant stride by successfully completing its Initial Public Offering (IPO) on the Australian ...Read more
Stock market
Institutional investors increase stock allocations to 18-year high amid cautious market shifts
In a recent development, State Street Markets unveiled the findings of its latest State Street Institutional Investor Indicators, revealing intriguing shifts in institutional investor behaviourRead more
Stock market
FOREX.com launches in Australia to empower self-directed traders
StoneX Group Inc. (NASDAQ: SNEX) has announced the Australian launch of FOREX.com, expanding access for self-directed traders to a global suite of Contracts for Difference (CFD) products across ...Read more
Stock market
Westpac and CMC Markets strengthen partnership to enhance online trading services
In a significant move that underscores the evolving landscape of online trading in Australia, CMC Markets Stockbroking has been chosen as the preferred vendor by Westpac Banking Corporation to extend ...Read more
Stock market
Portfolio reviews as an operating discipline: turning volatility into a competitive edge
In a higher-rate, higher-volatility world, portfolio reviews are no longer an annual hygiene task; they’re a core operating rhythm that protects cash flow, unlocks tax alpha, and sharpens risk ...Read more
Stock market
Fee war on the ASX: Global X’s A300 turns up the heat on core Aussie equity ETFs
Global X has lobbed a 0.04% management fee into Australia’s core equity sandbox, launching the Australia 300 ETF (A300) to take on entrenched giants. Read more
Stock market
Webull launches Webull Connect, revolutionising access for Australian financial advisers
In a significant move that marks its entry into the Australian wealth management sector, Webull Securities (Australia) Pty Ltd, a subsidiary of the Nasdaq-listed Webull Corporation, has unveiled its ...Read more
Stock market
Future Generation Global boosts dividends with special payout, marking significant yield increase
Future Generation Global (ASX: FGG) has announced a significant boost to its dividend offerings for the year 2025, delighting shareholders with an increased fully franked full-year dividend and an ...Read more
Stock market
6K Additive secures A$48 million through initial public offering on the Australian Stock Exchange
6K Additive, a prominent player in the advanced metal powders and alloy additions market, has made a significant stride by successfully completing its Initial Public Offering (IPO) on the Australian ...Read more
Stock market
Institutional investors increase stock allocations to 18-year high amid cautious market shifts
In a recent development, State Street Markets unveiled the findings of its latest State Street Institutional Investor Indicators, revealing intriguing shifts in institutional investor behaviourRead more
Stock market
FOREX.com launches in Australia to empower self-directed traders
StoneX Group Inc. (NASDAQ: SNEX) has announced the Australian launch of FOREX.com, expanding access for self-directed traders to a global suite of Contracts for Difference (CFD) products across ...Read more
Stock market
Westpac and CMC Markets strengthen partnership to enhance online trading services
In a significant move that underscores the evolving landscape of online trading in Australia, CMC Markets Stockbroking has been chosen as the preferred vendor by Westpac Banking Corporation to extend ...Read more
Stock market
Portfolio reviews as an operating discipline: turning volatility into a competitive edge
In a higher-rate, higher-volatility world, portfolio reviews are no longer an annual hygiene task; they’re a core operating rhythm that protects cash flow, unlocks tax alpha, and sharpens risk ...Read more
Stock market
Fee war on the ASX: Global X’s A300 turns up the heat on core Aussie equity ETFs
Global X has lobbed a 0.04% management fee into Australia’s core equity sandbox, launching the Australia 300 ETF (A300) to take on entrenched giants. Read more
