Date: 4 weeks ago   Category: Markets

Saudi Arabia has decided not to reform economy


The authorities of Saudi Arabia have refused primary placement at the exchange of the five-percent equity stake of the world's largest oil company Saudi Aramco, Reuters with reference to sources in the oil and gas sector of the country writes. This transaction was a body of the global plan for reorganization of economy of the kingdom. According to the edition, the international financial consultants working on the IPO have been recalled by the authorities of Saudi Arabia some time ago. Officially it wasn't reported yet. Materials on teme00:01 — on July 18 zadnyuyusaudovsky Arabia has deceived Dali the whole world. The neftvozmozhny reason for refusal of the transaction is guilty is that the management of Saudi Aramco "has switched to acquisition of a strategic share" in the national petrochemical company Saudi Basic Industries Corporation (SABIC). Now 70 percent of her actions belong to the main sovereign fund of the kingdom, another 5,7 percent — to public foundation of social insurance. The transaction on sale at the exchange of five percent Saudi Aramco has been announced by the crown prince of the country Mahomed bin Salman in 2016. It had to become a body of the global program "Vision of 2030" for reforming of economy and public life of Saudi Arabia. The program includes also construction of the megacity of Neom on border with Egypt and Jordan. The authorities estimated package cost at 100 billion dollars, and all company entirely — at two trillion. The transaction was repeatedly transferred. About her cancellation has for the first time become possible it is known in the spring of 2018. It is more than important news in Film of Day Telegram-channel. Subscribe!

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