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Saudi Aramco IPO Back On?

According to Saudi Crown Prince Mohammed bin Salman, the Aramco IPO is back on for 2020 or 2021.

Keep in mind that this is the same guy who is suspected to have involvement in the murder of journalist Jamal Khashoggi a while back.  Apparently time heals and people forget.  Two other things bode well for the IPO:  1) Aramco completed a very successful (and huge) bond offering and 2) the state-owned company sees the light at the end of the tunnel on its massive purchase of local chemical giant Saudi Basic Industries Corp.

The Aramco IPO is a key part of the kingdom’s plan to modernize its economy and diversify away from oil.  The intent goal is to sell 5% and raise $100B which would make it the biggest IPO ever!

Suffice it to say that we are not holding our breath, but when the time comes, you WILL be able to buy one share of Aramco and be the oil baron you always wanted to be.

More on the Saudi Aramco IPO

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