New Aramco Share Sale Does Not Change The Company’s Dire Situation

Many more questions than answers have been raised by last week’s sale of an additional US$11.2 billion of shares in Saudi Arabia’s flagship company Aramco. Much has been made by Aramco sources that the issuance attracted many more international investors than the original initial public offering (IPO) in December 2019 but as virtually none in the Western investment community took part back then, this appears as a largely redundant comparison. More apposite observations prompted by this latest stock sale are whether this will further…