Business

Saudi Aramco's IPO raised a record $25.6 billion - but an unusually low 1.5% of the company's shares will actually trade

1 month ago   |   By Business Insider

Saudi Aramco's record-shattering IPO made 3 billion shares available to public investors, though the offering only represents 1.5% of the oil giant's total value.
Most large-cap companies offer far more of their stock in IPOs. Apple , Amazon , and Google-parent Alphabet all have more than 84% of their shares listed publicly.
With the majority of Aramco's shares held by Saudi Arabia, government officials retain control of the firm and can lead it to take actions beneficial for the country.
Watch Aramco stock here after it begins trading Wednesday .
Saudi Aramco's record-breaking initial...
Read more ...

 




Pentagon reveals 34 US troops suffered traumatic brain injuries in Iran's...

Pentagon reveals 34 US troops suffered traumatic brain injuries in Iran's missile attack

The Pentagon revealed Friday that a total of 34 US service members have been diagnosed with concussions and traumatic brain injuries since the Jan. 8 Iranian ballistic missile... Read more ...

Trump's official unveiling of new Space Force logo is being mocked for...

Trump's official unveiling of new Space Force logo is being mocked for looking like a 'Star Trek' rip-off

President Donald Trump's official unveiling of the US military's Space Force logo was mocked on Twitter for resembling an emblem from a long-running and beloved science-fiction... Read more ...

A 2nd case of the Wuhan coronavirus in the US was just confirmed in Chicago

A 2nd case of the Wuhan coronavirus in the US was just confirmed in Chicago

CBS Chicago reported that a woman in her 60s has been diagnosed with Wuhan coronavirus. It's the second confirmed case in the US. The first case was reported in Washington... Read more ...

Secretary Pompeo curses at NPR host following a tense interview about...

Secretary Pompeo curses at NPR host following a tense interview about Ukraine and Marie Yovanovitch

NPR host Mary Louise Kelly said State Secretary Mike Pompeo shouted and cursed at her and demanded she find Ukraine on a map, following a tense interview about former US... Read more ...

Tulsi Gabbard is running for president in 2020. Here's everything we know...

Tulsi Gabbard is running for president in 2020. Here's everything we know about the candidate and how she stacks up against the competition

Who is Tulsi Gabbard? Current job: US Representative for Hawaii's 2nd congressional district. Major in the Hawaii Army National Guard. Running for president of the United... Read more ...

'Take her out': New recording appears to feature an angry Trump telling...

'Take her out': New recording appears to feature an angry Trump telling Giuliani's associates to 'get rid of' US ambassador to Ukraine for bad-mouthing him

President Donald Trump appeared to order associates of his personal lawyer to "get rid" of then-US ambassador to Ukraine Marie Yovanovitch during a dinner in April 2018... Read more ...

The flu is a far bigger threat to most people in the US than the Wuhan...

The flu is a far bigger threat to most people in the US than the Wuhan coronavirus. Here's why

A coronavirus that originated in Wuhan, China, has killed 26 people and infected more than 900. The virus has spread to nine other countries, including the US. Patients... Read more ...

The Saudi crown prince allegedly hacked Jeff Bezos' phone. Meet 34-year-old...

The Saudi crown prince allegedly hacked Jeff Bezos' phone. Meet 34-year-old Mohammed bin Salman, who's at the center of human rights issues and drops millions on yachts and mansions

Mohammed bin Salman is the 34-year-old crown prince of Saudi Arabia. The UN said this week it had received credible information that Prince Mohammed hacked the personal cell... Read more ...

Demi Lovato reveals the song she'll sing at the Grammys was written just...

Demi Lovato reveals the song she'll sing at the Grammys was written just before her overdose: 'I hear these lyrics as a cry for help'

Demi Lovato opened up about her comeback performance at the Grammys on Sunday in a new interview with Beats 1's Zane Lowe . She revealed the song that she'll be performing... Read more ...

Oil is on track for its worst week since July amid coronavirus fears

Oil is on track for its worst week since July amid coronavirus fears

Oil prices fell Friday and are on track for the worst week since July amid fears that China's Wuhan virus will damage global demand. Futures of West Texas Intermediate crude... Read more ...