Saudi Aramco IPO could be stabilised by Goldman Sachs
Saudi Aramco announced that US-based investment bank Goldman Sachs may stabilise its shares following its initial public offering earlier this month.
Goldman Sachs may stabilise Saudi Aramco’s shares after its record breaking initial public offering (IPO) earlier this month, the oil company said in a statement.
If required, the US-based investment bank will acquire additional shares in Saudi Aramco to stabilise and support its share price.
Looking to trade Saudi Aramco and other oil stocks? Open a live or demo account with IG.
Saudi Aramco stabilisation period to end in January
The stabilisation period is set to end on January 9, however, no transactions have been executed at this stage, Saudi Aramco said.
Saudi Aramco is trading at 35.40 riyals, 10% higher than its IPO price of 32 riyals a share, representing a market value for the company of around $1.9 trillion.
You can go long or short Saudi Aramco with IG using derivatives like CFDs.
Saudi Aramco acquires 17% of South Korean Hyundai Oilbank
Saudi Aramco has acquired 17% of Hyundai Oilbank from Hyundai Heavy Industries Holdings last week.
The investment Hyundai Oilbank supports Saudi Aramco’s downstream growth strategy of expanding its global footprint in key markets in profitable integrated refining, chemicals and marketing businesses which enable Saudi Aramco to place crude oil and leverage its trading capabilities, the company said in a statement.
The deal is valued at approximately $1.2 billion.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.