Week 52 – News Update From the Kingdom

The Kingdom of Saudi Arabia has allocated SAR 12 Billion over the last few years in support of small and medium enterprises. A report from General Authority for Statistics demonstrated that the unemployment rate dipped to 5.5 percent in third quarter compared to 5.6 percent for the second quarter of the same year. In other…
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Week 51 – News Update from the Kingdom

The Kingdom of Saudi Arabia has released its budget for 2020 which will see an expenditure of 1.02 trillion riyals, compared to 1.05 trillion in 2019. Saudi Aramco, officially the world’s largest IPO, briefly reached a valuation of $2 trillion on its second day of trading on Thursday with shares reaching 38.7 riyals. In other…
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Week 50 – News Update from the Kingdom

Kuwait’s government will invest as much as $1 billion in the initial public offering of Saudi Aramco as the kingdom asks regional allies to bolster the record share sale, according to people familiar with the matter. In other news, the Saudi Arabian construction sector witnessed solid growth in the third quarter, buoyed by SR47.8 billion…
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AEI & Sovereign: MoU signed at Opportunity Arabia

AEI was delighted to support Pathfinder Trade & Invest with the Opportunity Arabia – Oil and Beyond event in London last month, an event which brought together Saudi and British business to help promote trade and opportunities in the Saudi market. The day featured three panel sessions discussing the numerous opportunities in the Kingdom as…
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Week 49 – News Update from the Kingdom

Saudi Aramco’s share sale has attracted bids worth $44.3 billion as of Friday, about 1.7 times the amount the Kingdom’s government plans to raise in what is on course to be the world’s largest listing when it formally prices next week. In other news, MbS was in the UAE for an official visit where seven…
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Week 48 – News Update From the Kingdom

Saudi Arabia’s Samba Financial Group announced on Thursday that Saudi Aramco’s initial public offering has attracted approximately 73 Billion riyals in institutional and retail orders so far. Saudi Aramco has also been in talks with officials from Kuwait’s sovereign wealth fund and investors in Dubai as it looks to market its IPO to regional buyers….
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Week 47 – News Update from the Kingdom

Saudi Aramco launched its IPO for retail and institutional investors on November 17 and has set the share price between SAR 30 – SAR 32. The retail offering will close on November 28 while the deadline for institutional investors is set for December 4. The initial offering is made up of one billion shares or…
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Week 46 – News Update from the Kingdom

The Saudi Aramco IPO will be available for local Saudi investors to start bidding on the 17th November, although the exact size of the initial offering has not been confirmed. According to the official prospectus Saudi Aramco is going to offer its 73,000 employees $1 billion in shares and has been in talks with wealthy…
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Week 45 – News Update from the Kingdom

Saudi Arabia recently hosted the third Future Investment Initiative (FII) at the Ritz Carlton in Riyadh. The event ended on Thursday with 24 investment deals worth $20 billion reported to have been signed across energy, transport, oil and gas, petrochemicals and manufacturing. In other news, Saudi Aramco has confirmed that it plans to list 1%…
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Week 44 – News Update from the Kingdom

Saudi Arabia is the world’s most improved country when it comes to the ‘ease of doing business’ according to the world bank. This comes as various reforms have been put in place as part of the Vision 2030 plan and caused the Kingdom to move up 30 places in the Doing Business 2020 report. In…
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