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A WEEK before the tabling of Budget 2020, this column highlighted that the budget will likely be a non-event as far as the market is concerned for the simple reason that the government’s finances are tight and it cannot simply afford the many wishes of the wide range of stakeholders.
LONDON: Saudi Aramco’s stop-start initial public offering was delayed again just days before a planned launch as doubts re-emerged about the $2 trillion valuation placed on the state oil giant by Crown Prince Mohammed bin Salman.
RIYADH/LONDON/DUBAI: Saudi Arabia is setting the stage for a blockbuster listing of state oil giant Saudi Aramco in Riyadh, relying on easy credit for retail investors and pushing rich locals to invest with cash held abroad to achieve a $2 trillion (1.6 trillion pounds) valuation target.
MUMBAI: Blackstone Group and Indian developer K Raheja Group have selected more banks for an initial public offering of their joint commercial property portfolio, according to sources.
SINGAPORE (Bloomberg): Singapore real estate investment trusts are back for more cash, pushing secondary share sales to record levels.
SYDNEY: Private equity giant KKR & Co and its partners cancelled what was to be Australia's biggest listing of the year, lender Latitude Financial, because investors would not pay a price that reflected its value, the Latitude CEO said on Wednesday.
DUBAI: Advisers working on Saudi Aramco’s mammoth share sale may split a fee pool of as much as US$450 million, according to people with knowledge of the matter, making it one of the biggest IPO pay outs globally.
KUALA LUMPUR: Ready-to-assemble furniture products designer and manufacturer Spring Art Holdings Berhad expects to raise RM24.42mil as it seeks to list on the ACE Market of Bursa Malaysia Securities.
JAKARTA: PT Champ Resto, Indonesian operator of restaurant chains including Gokana Ramen & Teppan, is weighing an initial public offering in the largest nation in South-East Asia that could raise about US$150mil, according to sources.
LONDON: Helios Towers Ltd rose 1.8% in London after raising £288mil (US$364mil) in a long-delayed share sale that gives investors a foothold in Africa’s fast-growing wireless tower industry.