fuel producer: Here is a review of the year in business, according to The Guardian. Floats Saudi Aramco secured its position as the most valuable listed company in history after investor appetite for the world's biggest fossil fuel producer pushed its market value to just under 1.9tn 1.4tn after its long-awaited listing. Bankers and tycoons tried to get on with things by attempting huge flotations, large mergers and sizeable refinancings with mixed results. Shares in the Saudi state-backed oil company defied Aramco's critics by climbing nearly 11% above the 1.7tn valuation set before its market debut on Riyadh's stock exchange. The word's most profitable company was supposed to be worth 2tn when it listed the number coveted by Saudi Arabia's crown prince, Mohammed bin Salman while a secondary goal was to insert Aramco shares into the portfolios of international investors. However, despite those numbers, it was still difficult to class the float as an unmitigated success.
(news.financializer.com). As
reported in the news.
Tagged under fuel producer, investor appetite topics.