Saudi Aramco formally announced an IPO as part of the Crown Prince’s plan to reduce Saudi Arabia’s dependency on oil. How do the two correlate?
In: Economics
The company will instantly have many many billions of dollars available to it for investment in alternative sources, without impacting the bottom line of the company.
Yes, it will then be a shareholder driven company and will be responsible to the board and the shareholders – but I suspect the Saudi royal family will obtain or maintain majority ownership, and with it the ability to squelch any uppity environmentalist shareholder efforts.
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