What happened to Saudi Aramco IPO?

Is Saudi Aramco going public?

Topline: Saudi Aramco finally went public with the world’s largest-ever IPO on Wednesday morning, with shares surging more than 15% in two days of trading and giving the state oil giant a valuation of $2 trillion.

Can I invest in Saudi Aramco IPO?

Being an Indian citizen, you can still invest in the IPO. One way to do is to use the government’s Liberalised Remittance Scheme (LRS). Under this, domestic investors are allowed to remit US $250,000 during a financial year to another country, which can be used to buy stocks and debt instruments in overseas markets.

Was Saudi Aramco IPO successful?

While this initial portion of the Aramco IPO has been quite successful, at the very least making some of the more vocal critics think twice, it did not achieve the ultimate goal of raising $100 billion for Saudi Arabia’s Public Investment Fund (PIF), and thus its efforts to diversify the Saudi economy.

Who is the CEO of Saudi Aramco?

Can I buy Saudi Aramco stock?

It’s extremely hard for any American to buy into Saudi Aramco, the world’s most valuable corporation. But for those looking to get a little exposure, at least two widely available exchange-traded funds now hold shares of the company.

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Is Saudi Aramco the richest company?

Every industry can be part of the solution — or part of the ongoing problem. Saudi Aramco, the world’s largest oil exporter, is no longer the world’s most profitable company. … The iPhone maker netted $57.4 billion in its 2020 fiscal year, while the oil giant recorded a (measly for Aramco) $49 billion profit.

Is Saudi a good place to invest?

Saudi Arabia is best known among investors for its tremendous oil industry, with approximately 266.5 billion barrels of oil reserves. … Here is a look at Saudi Arabia’s economy, major stock exchange, and some options for U.S.-based investors to take positions in its companies.

What should I invest in Saudi Arabia?

Investment Sectors

  • Chemicals. The chemicals industry is an essential part of the Kingdom’s economic diversification. …
  • Information Technology. …
  • Energy & Water. …
  • Industrial and Manufacturing. …
  • Mining and Metals. …
  • Transport and Logistics. …
  • Tourism, culture and entertainment. …
  • Real Estate.

Can foreigners buy stocks in Saudi Arabia?

Regulations limit foreign investment in Saudi stocks to financial institutions and billionaires. Further restrictions limit the number of shares any foreigner can buy. Investors without the deepest pockets can get exposure to Saudi stocks through a number of ETFs.

Why is Saudi Aramco successful?

Aramco supplies about 10% of the world’s crude oil. … That’s just one part of what makes Aramco so profitable. The company also benefits from investments it has made in its infrastructure, which makes it cheap to pump its oil. Then there’s the accessibility of its oil reserves.

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