IPO

Aston Martin targets London float

London - Muslimchronicle

British luxury carmaker Aston Martin, fictional spy James Bond's favourite model of transport, is mulling a London stock market flotation, Bloomberg reported Tuesday. Aston Martin is mulling an initial public offering (IPO) that could value the iconic sports car manufacturer at as much as £5.0 billion ($6.8 billion, 5.7 billion euros), according to the report which cited people familiar with theRead more

Gulf money stalling tech IPOs

California - Muslimchronicle

Big cash infusions for startups from an ever-expanding group of investors, led by SoftBank Group and Middle East sovereign wealth funds, have extinguished hopes that the technology IPO market would bounce back this year. These deep-pocketed financiers, which have traditionally invested in the public markets but are seeking better returns from private tech companies, have enabled startups to raise moreRead more

Saudi Aramco considering ‘range of options’ for share sale

Dubai - Muslimchronicle

Saudi Aramco is considering a “range of options” for a listing on stock markets but has not ruled out the possibility of a private sale of shares to global institutions and sovereign wealth funds, it has emerged. One potential alternative to an immediate listing on global stock exchanges is a trade sale to Chinese investors, with whom talks have takenRead more

IPO of 'Angry Birds' owner takes flight in Helsinki

Helsinki - Muslimchronicle

Finland's Rovio, creator of the hugely popular smartphone game "Angry Birds", launched its initial public offering (IPO) on the Helsinki stock exchange on Monday, valuing the company at almost 900 million euros ($1.1 billion). Rovio said it was putting 37 million shares up for sale at between 10.25 and 11.50 euros apiece in the stock flotation. The company also hopesRead more

Abu Dhabi’s ADNOC ‘hires banks for fuel retailer IPO’

Abu Dhabi - Muslimchronicle

The Abu Dhabi National Oil Company (ADNOC) has picked a local bank and three foreign lenders as bookrunners for the planned initial public offering (IPO) of its retail unit that could raise $1.5 billion to $2 billion, sources said on Thursday. The listing for ADNOC Distribution, which manages petrol stations as well as convenience stores across the UAE, comes asRead more

Aramco executive president expects decline in oil market

Jeddah - Muslimchronicle

A turning point in the oil market is on the horizon amid a sharp drop in investments and a lack of fresh conventional discoveries, Saudi Aramco's chief executive said on Monday. "A lack of investment is definitely not helping, so if that continues over the next couple of years there will be an inflection point," Amin Nasser said on theRead more

Aramco’s refinery plans set to sweeten IPO

Jeddah - Arab Today

How can an oil and gas giant like Saudi Aramco boost its profile ahead of its planned share sale? There are three areas where Aramco can work its magic to sweeten the initial public offering (IPO) for investors: Booking more reserves, finding more markets for its crude and becoming greener and an exporter of technology. The issue of booking moreRead more

Altice USA to file papers for IPO this week: source

New York - AFP

Telecom firm Altice USA plans to take the first steps this week towards an initial public offering on the New York Stock Exchange, a person familiar with the matter told AFP Monday. Altice USA, the affiliate of Netherlands-based telecom giant Altice led by billionaire Patrick Drahi, plans to file papers by Wednesday with the US Securities and Exchange Commission toRead more

Making Aramco more attractive to investors

Riyadh - Arab Today

The first step has been taken in making Saudi Aramco more attractive to investors ahead of its planned initial public offering (IPO). On March 27, the Saudi government approved a new tax regime for hydrocarbon producers in the Kingdom, under which Aramco’s income tax will fall to 50 percent from 85 percent. So the next question should be: What elseRead more

Asia and the Saudi Aramco IPO

Riyadh - Arab Today

What can Asia offer the largest expected initial public offering (IPO) in history — that of Saudi Aramco? King Salman’s month-long tour of Asia ended with a more-than-successful visit to China, the largest energy consumer in Asia and the second-largest crude oil consumer in the world after the US. Wherever the king went in Asia, Saudi Aramco seemed to beRead more