News

Aramco IPO said to be on track for 2018

Initial public offering The initial public offering of Saudi Aramco will happen in 2018 as planned despite rumours of setbacks, says the Saudi crown prince Mohammed bin Salman. He said the location for the listing was as yet undecided but that the company's value may be even higher than the $2 trillion formerly estimated. “Undoubtedly the biggest IPO in the world must be accompanied by a lot of rumours,” he said in an interview, before concluding that investors would have the final say as to the company's worth. The stock exchanges of New York and London are vying to host shares in the company, which is expected to be listed partly in Saudi Arabia and partly on an international bourse. Elsewhere in the interview, the crown prince was dismissive about a diplomatic crisis in the Gulf that has seen Qatar shunned for its alleged support of terrorism, among other supposed misdeeds. “Qatar is a very, very, very small issue,” he said. ©2017 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

Roundtables

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.

SOUTH AFRICA ROUNDTABLE: Airline syndrome

Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.