BW scales back IPO plans on coronavirus chill
Plans for an IPO for marginal field-developer BW Energy have been pushed back – and pricing scaled back – in light of financial volatility, blamed on the coronavirus in China.
IPO
Sonangol tees up share sale
Angola intends to privatise 30% in state-owned Sonangol, in a bid to raise money and increase the company’s competitive edge.
BW Energy sets out IPO pricing
BW Energy expects to price shares in its IPO at 34.2-36.6 Norwegian krone ($3.74-4), valuing the company at $700-750 million.
BW Energy plans Oslo IPO this quarter
BW Offshore intends to hold an IPO of its BW Energy unit, which is producing oil in Gabon, in the first quarter of 2020 on the Oslo Stock Exchange.
Domestic demands and Aramco’s IPO
Saudi Arabia is pushing ahead with the much-watched IPO of the mainstay of its economy, Aramco, although with somewhat diminished aspirations.
Aramco failure to win foreign cash makes IPO local event
Two years ago, when the initial public offering of Saudi oil giant Aramco held the imagination of foreign investors, President Donald Trump felt compelled to publicly lobby for the share sale to happen in America.
Saudi Arabia cuts $2trillion Aramco valuation
Saudi Arabia set a valuation target for Aramco’s initial public offering well below Crown Prince Mohammed bin Salman’s goal of $2 trillion and pared back the size of the sale to ensure the world’s largest oil producer successfully lists on the Riyadh stock exchange next month.
Saudi Arabia starts IPO of state-owned oil giant Aramco
Saudi Arabia has formally announced the start of its initial public offering (IPO) of the state-run oil giant Saudi Aramco.
Ghana challenges slow Pecan development for Aker
Aker Energy has changed its plans to develop the Pecan field in Ghana in the face of regulatory complexity.
Aramco to trade on Saudi exchange in December, Arabiya Says
Shares in Saudi state oil giant Aramco will start trading on the Middle Eastern country’s stock exchange on Dec. 11, television news channel Al Arabiya reported, without identifying the source for the information.
Fitch cuts Aramco’s rating
Fitch Ratings has cut Saudi Aramco’s rating to A from A+, following its downgrade of Saudi Arabia.
Engen’s IPO plans amid South African pressure
Plans are afoot for an initial public offering (IPO) of South Africa’s Engen, which might provide a rare bright spot in the country’s institutional outlook.
Baptism of fire for new Saudi energy minister
Nobody expected Prince Abdulaziz bin Salman’s new job to be easy, but it is doubtful even he could have predicted how difficult his first few days would be.
Vaalco sets out London IPO move
Vaalco Energy has set out formal plans to list on the London Stock Exchange’s main market. The listing should take place by September 30.
Bankers descend on Saudi Arabia to compete for Aramco IPO
Global banks will this week start making their case on why they should be hired for what’s set to be the world’s biggest initial public offering, according to people with knowledge of the matter.
Lazard in pole position for Aramco IPO after bond succcess
Lazard’s success working on the blockbuster Saudi Aramco bond sale this year has put it in pole position to secure a coveted spot on the oil giant’s second attempt at the world’s largest initial public offering.
Bankers question whether Saudi Aramco IPO will be worth the effort
When Saudi Arabia announced plans to sell shares in its crown jewel Aramco, international bankers scrambled to get a piece of the action. Three years on, they’re questioning whether what could be the world’s biggest IPO is worth their time and effort.
Saudi Aramco to dust off shelved plans for mega IPO
Saudi Arabia is restarting preparations for a potential initial public offering of oil giant Aramco, months after putting the planned listing on hold, people familiar with the matter said.
Saudis raise oil reserves ahead of Aramco’s planned IPO
Saudi Arabia published the first audit of its vast oil reserves since it nationalized its energy industry about 40 years ago, saying its reserves total 268.5 billion, slightly more than the 266.3 billion figure that the government published previously.
Saudi Crown Prince’s 2021 Aramco IPO deadline is daunting test
One of the biggest-ever mergers in the oil industry. The largest corporate bond sale on record. The most lucrative initial public offering in "human history." The timetable: two and a half years.
Saudis play down Aramco float cancellation
Saudi Arabia has insisted it "remains committed" to a two trillion US dollar (£1.5 trillion) stock market listing of oil giant Saudi Aramco, despite reports suggesting it has been abandoned.
Aramco IPO preparations stall, report says
Saudi Aramco and the country aren’t ready for an IPO that could raise $100 billion but also bring unprecedented scrutiny to the company, the Wall St. Journal reported, citing Saudi officials and people close to the process.
Aramco gets cool response on IPO from US investors
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.
Aramco seeks $2bn from Japan’s export agency
Saudi Arabian Oil Co. is seeking a $2 billion loan from Japan’s export-credit agency, three people with knowledge of the matter said, as competition for a role in potentially the world’s largest initial share offering heats up.
Oil could hit $60 if OPEC cuts are extended, analyst claims
Oil could hit $60 a barrel by the year end if the OPEC pact to curb oil output is extended, a leading market analyst has claimed