The most profitable company of the world has given out more details regarding the flotation in the stock market which it has planned.
Saudi Aramco which is an oil giant has had a long wait before its prospectus said that the individual retail investors are going to get a chance to buy the shares of the company along with the big institutions.
The prospectus is finally out and is 600 pages long however it has not given out details regarding how much of the firm from Saudi is going to be sold, further the date of listing has not been revealed.
The prospectus has though mentioned the possible risks which include the control of the government over the output of oil and the attacks from terrorists.
The Crown Prince is looking to sell these shares for the raising of billions of dollars for diversifying the economy of Saudi away from oil as it invests in the industries that are non-energy.
Bankers are of the opinion that this floatation is going to be valued at $1.5 trillion to $2 trillion which makes it the biggest ever stock market listing.
The prospectus has said that up to 0.5% of Saudi Aramco is going to be kept aside for the retail savers however the company has not taken a decision on the percentage for the big institutional buyers.
Post the flotation, the company is nog going to list any further shares for a period of six months according to the prospectus. However among the attractions given to the investors is the possibility of a high dividend though the right to change the dividend policy rests with the company without any prior notice.
Jessica holds a degree in Astrophysics and has always been a true fanatic of the outer world, space, universe, and mysteries that lie within it. Taking this enthusiasm and dedication into consideration, Jessica seemed to be the apt choice to be given the responsibility of the Science domain. She has been working with this organization for 2 years now. Earlier, she worked as a Content Writer and Editor in Medical Device News organization. Jessica writes news articles, blogs, and reports pertaining to the Science domain that encompasses new findings & discoveries, alien life, new satellite & spacecraft liftoffs, space competitions, inventions & innovations, galaxies & outer space, planets & exoplanets, and much more.