Back into STO @$3.02 for a swing trade after take a sizable profit from my MGX position
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
WTI up 2% overnight ....STO might well get a good kick on today .....
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Yes been following closely for 4 months. I expect the price to head to $6 due to an improved offer and potential bid competition. The Aramco float is also a big bonus to price.
in a channel for 6 months now. Climb is so steep for such a big company that I keep expecting it to flatten out. And, as you say, Schrodinger, there is still bidding in the wind.
(Chart looks great if you don't look a few years back.) Attachment 9395
Saudi Arabia takes step closer to giant Aramco IPO
Gasoil News - Published on Tue, 09 Jan 2018
Image Source: moneycontrol.comSaudi Arabia announced that Aramco had been granted new status allowing individuals to hold shares in the oil giant, which it aims to float on the stock market this year. A bulletin published in the kingdom's official gazette said the cabinet had approved giving joint-stock status to Aramco effective January 1, 2018.
The move comes as the kingdom prepares to sell under five per cent of state-owned Aramco, the crown jewel of its economy, in what is expected to be the world's largest ever initial public offering.
The flotation forms the cornerstone of a reform drive led by Crown Prince Mohammed bin Salman to wean the economy off its reliance on oil.
Managed by a board of directors, rather than directly by government, joint-stock companies allow individuals to hold stock and thus share in both the debt and profit of the company.
The bulletin said that a provisional board of directors - Aramco's first ever - will be appointed based on the recommendation of the kingdom's oil minister. It will be followed at a later date by "the formation of a board of directors under the provisions of the founding statute".
According to the gazette, the state will retain direct ownership of the majority of Aramco shares.
The Aramco IPO could generate some USD 100 billion in much-needed revenue after the country lost hundreds of billions of dollars since crude prices slumped in mid-2014, leading to huge budget deficits.
Mr Amin Nasser CEO of Aramco said that the IPO is scheduled for the second half of 2018.Source : AFP
Lets see whats in the best interests for this float... first guess is a preferred high oil price into late 2018.
Last edited by Schrodinger; 11-01-2018 at 10:08 AM.
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