RIYADH: A digital security firm owned by Saudi Arabia’s Public Investment Fund (PIF) has hired Riyad Capital to advise on a possible IPO, Bloomberg reported.
Digital security firm Elm has hired Riyad Capital to advise on the share sale that could value the company at about $2 billion, according to people familiar with the matter.
The IPO could see the PIF selling off a stake of up to 30 percent, the people said, asking not to be identified as the information is private.
Elm is aiming to complete the sale of shares on the Saudi stock exchange by next year, Bloomberg said.
by Bloomberg
|Friday, May 07, 2021
The cost of building blocks for everything from plastics to paint has surged over the past year.
(Bloomberg) Drive down any highway in the world and you’ll see countless reminders that the price of Big Oil’s primary product is rising. What’s less obvious is how the inflationary pressures from transport fuel are being amplified by another part of this sprawling industry chemicals.
The cost of the building blocks for everything from plastics to paint has surged over the past year. That’s great for companies like Exxon Mobil Corp. and Royal Dutch Shell Plc, whose petrochemical units just earned their biggest profit in years.
Saudi Aramco Follows Big Oil Rivals with Bumper Earnings
Posted 05/05/2021 12:10
Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments.
The world’s biggest energy company kept its quarterly payout, almost all of which goes to the Saudi government, at $18.75 billion. The money is vital for the kingdom as it tries to narrow a budget deficit that ballooned last year, with the coronavirus pandemic sinking oil prices and shutting down local businesses.
The bumper results follow those last week of Big Oil rivals such as Royal Dutch Shell Plc and BP Plc, whose earnings are back to pre-pandemic levels as major economies reopen and more people are vaccinated. Brent crude has gained more than 30% this year to top $68 a barrel.
(Bloomberg)
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Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments.
The world’s biggest energy firm kept its quarterly payout, almost all of which goes to the Saudi Arabian government, at $18.75 billion. The money is a vital source of cash for the kingdom as it tries to narrow a budget deficit that ballooned last year, with the coronavirus pandemic sinking oil prices and shutting down local businesses.
by Bloomberg
|Tuesday, May 04, 2021
Arabian Drilling Co is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.
(Bloomberg) Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.
The firm, also owned by Saudi Arabia’s Industrialization & Energy Services Company, known as Taqa, has asked banks to pitch for a role on the potential share sale, the people said, asking not to be identified as the information is private.