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Greek-operated tanker hit by mine at Saudi terminal
  + stars: | 2020-11-25 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
DUBAI (Reuters) - A Greek-operated tanker was damaged by a mine at a Saudi Arabian terminal on the Red Sea just north of the Yemeni border, damaging its hull, British maritime security company Ambrey said on Wednesday. The Maltese-flagged tanker Agrari, is operated by Greece’s TMS Tankers, Ambrey said. “The ... LR2/Aframax tanker AGRARI was impacted by a mine having berthed at one of the Al Shuqaiq Steam Power Plant (SSPP) jetties in Saudi Arabia,” Ambrey’s report said. The report follows a number of recent security incidents concerning Saudi oil infrastructure. The Agrari is a smaller aframax crude oil tanker, data on TMS Tankers website showed.
Persons: Ambrey, Al, Organizations: Reuters, United Kingdom Maritime Trade Operations, Greece’s TMS, TMS, Saudi Locations: DUBAI, Saudi, Yemeni, Saudi Arabia, al, Saudi Aramco, Jeddah, Aramco, Yemen, Red
The debris are seen at a Saudi Aramco oil company distribution station that Yemeni Houthis say they attacked, in the city of Jeddah, Saudi Arabia, November 24, 2020. REUTERS/Nael ShyoukhiCAIRO (Reuters) - Saudi Arabian’s cabinet said on Tuesday that Houthi attacks committed against vital installations target the backbone of the global economy and the security of its supplies, state news agency (SPA) reported. On Monday, a fire broke out in a fuel tank at a petroleum products distribution station in the Saudi city of Jeddah as a result of a Houthi attack, SPA had reported. The cabinet also stressed the importance of facing up to “such sabotage and terrorist acts and the parties behind them.”
Persons: Nael Shyoukhi, Organizations: REUTERS Locations: Saudi Aramco, Jeddah, Saudi Arabia, Nael, Nael Shyoukhi CAIRO, Saudi
Saudi Aramco says customers unaffected by Houthi attack on Jeddah facility
  + stars: | 2020-11-24 | by ( ) www.cnbc.com sentiment -1.00   time to read: +1 min
Oil tanks at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and gas company, at the Abqaiq oil field. An official from the Saudi Aramco oil company on Tuesday said customers were unaffected by an attack that came from Yemen's Houthi group at a petroleum products distribution plant in the north of Jeddah city. Yemen's Iran-aligned Houthi forces on Monday said they fired a missile at and struck the Jeddah facility. One of the 13 tanks at Aramco's North Jeddah Bulk Plant is currently out of action, the official told journalists on a tour. He described the site as a "critical facility" which distributes more than 120,000 barrels of products per day domestically to Jeddah, Mecca and the al-Baha region.
Persons: Yemen's Organizations: Saudi Aramco, Jeddah Bulk Locations: Saudi, Saudi Arabian, Saudi Aramco, Jeddah city, Yemen's Iran, Jeddah, Mecca
Yemen's Houthis say they fired missile at Saudi Aramco site in Jeddah
  + stars: | 2020-11-23 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +2 min
RIYADH/DUBAI (Reuters) - Yemen’s Iran-aligned Houthi group on Monday said it fired a missile at a distribution station operated by the Saudi Aramco oil company in Saudi Arabia’s Red Sea city of Jeddah and struck it. FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Aramco’s oil production and export facilities are mostly in Saudi’s Eastern Province, more than 1,000 km across the country from Jeddah. A Houthi military spokesman, Yahya Sarea, said the attack was carried out with a Quds-2 type winged missile. He also posted a satellite image with the label “north Jeddah bulk plant-Saudi Aramco”.
Persons: Maxim, Yahya Sarea, ” Sarea, Houthi, Sarea Organizations: Reuters, Saudi, REUTERS, Aramco, Saudi Aramco ”, Google, Saudi Arabia Locations: RIYADH, DUBAI, Iran, Saudi Aramco, Saudi, Red Sea, Jeddah, Abqaiq, Saudi Arabia, Eastern Province, Jeddah . State, Quds, , Yemen, Houthi
RIYADH/DUBAI (Reuters) - Yemeni Houthi forces fired a missile that struck a Saudi Aramco oil company distribution station in Saudi Arabia’s Red Sea city of Jeddah, a Houthi military spokesman said on Monday. FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Over the almost six-year-old war, Houthi forces have carried out many missile and drone strikes on civilian airports and oil infrastructure in Saudi, as well as on the capital Riyadh. The Saudi-led coalition says it intercepts many attacks, and has responded with air strikes on Houthi-held territory. Cross-border attacks by Houthi forces, who control most of north Yemen, have escalated since late May when a truce prompted by the novel coronavirus pandemic expired.
Persons: Maxim, Yahya Sarea, ” Sarea Organizations: Reuters, Saudi, REUTERS, Saudi Aramco ”, Google, Aramco, Saudi Arabia Locations: RIYADH, DUBAI, Saudi Aramco, Saudi, Red Sea, Jeddah, Abqaiq, Saudi Arabia, Yemen, Jeddah . State, Eastern Province, , Quds, Sunday, Sanaa, Iran, Riyadh, The Saudi, Houthi, Red
SINGAPORE (Reuters) - Oil prices rose 1% on Monday, extending gains as traders eyed a recovery in crude demand due to successful coronavirus vaccine trials, and concerns over tensions in the Middle East. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus MordantSentiment was also bolstered by hopes that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, will continue to restrain production. Yemen’s Iran-aligned Houthi group on Monday said it fired a missile that struck a distribution station operated by the Saudi Aramco oil company in Saudi Arabia’s Red Sea city of Jeddah. Aramco’s oil production and export facilities are mostly in Saudi’s Eastern Province, more than 1,000 km across the country from Jeddah.
Persons: Angus Mordant, , Stephen Innes, AstraZeneca Organizations: REUTERS, of, Petroleum, Brent, West Texas Intermediate, Global, University of Oxford Locations: SINGAPORE, Loving County , Texas, U.S, Russia, OPEC, British, Yemen’s Iran, Saudi Aramco, Saudi, Red Sea, Jeddah, Eastern Province
Oil prices rise on back of COVID vaccine news
  + stars: | 2020-11-23 | by ( Shadia Nasralla | ) www.reuters.com sentiment -0.99   time to read: +2 min
LONDON (Reuters) - Oil prices rose more than 1% on Monday, extending last week’s gains as traders eyed a recovery in demand due to successful coronavirus vaccine trials. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude rose 94 cents to $45.90 a barrel by 0913 GMT while U.S. West Texas Intermediate crude gained 76 cents to $43.18 a barrel. British drugmaker AstraZeneca said on Monday its vaccine, developed along with the University of Oxford, could be around 90% effective under one dosing regimen. Smaller Russian oil companies are still planning to pump more crude this year, a group representing the producers said.
Persons: Angus Mordant, Brent, AstraZeneca, Stephen Brennock, Organizations: REUTERS, of, Petroleum, West Texas Intermediate, U.S, British, University of Oxford Locations: Loving County , Texas, U.S, Russia, OPEC, United States, Yemen’s Iran, Saudi Aramco, Jeddah
Oil prices rise on COVID-19 vaccine news
  + stars: | 2020-11-23 | by ( Shadia Nasralla | ) www.reuters.com sentiment -0.99   time to read: +2 min
LONDON (Reuters) - Oil prices rose more than 1% on Monday, extending last week’s gains as traders anticipated coronavirus vaccine trials would spur a recovery in demand. FILE PHOTO: A crude oil tanker is seen at Qingdao Port, Shandong province, China, April 21, 2019. Brent crude rose 66 cents to $45.62 a barrel by 1247 GMT while U.S. West Texas Intermediate crude gained 52 cents to $42.94 a barrel. British drugmaker AstraZeneca said on Monday its vaccine, developed along with the University of Oxford, could be around 90% effective. Smaller Russian oil companies are still planning to pump more crude this year, a group representing the producers said.
Persons: Jason Lee, Brent, shallowest, AstraZeneca, Stephen Brennock, Organizations: REUTERS, of, Petroleum, West Texas Intermediate, U.S, British, University of Oxford, Locations: Qingdao Port, Shandong province, China, Russia, OPEC, United States, Yemen’s Iran, Saudi Aramco, Jeddah
RIYADH/DUBAI (Reuters) - Saudi Arabia’s Minister of Investment Khalid al-Falih said on Saturday foreign direct investment (FDI) increased by 12% in the first half of 2020 compared with the same period last year. FILE PHOTO: Saudi Arabian Investment Minister Khalid al-Falih, wears a mask as he attends a virtual meeting of B20 at the Saudi Business Group summit in Riyadh, Saudi Arabia October 26, 2020. “When I mentioned the 12% increase I wanted to assure people that there was no decline, our FDI target is much higher,” Falih said on Saturday. As part of efforts to attract foreign investors, Saudi Arabia will launch next year special economic zones dedicated to several sectors, Falih said. In addition to attracting higher investment volumes, it will focus on “qualitative growth”, he said, mentioning areas such as cloud computing, renewable energy, tourism, culture, entertainment, and logistics.
Persons: Khalid, Falih, Khalid al, Ahmed Yosri, “ I’m, ” Falih Organizations: Reuters, Saudi Arabia’s, Saudi Arabian Investment, Saudi Business Group, REUTERS, Saudi Aramco Locations: RIYADH, DUBAI, Saudi, Riyadh, Saudi Arabia
Saudi Energy Minister Khalid al-Falih speaks to the media during Saudi government ministers brief in Riyadh, Saudi Arabia December 19, 2018. Saudi Arabia's Minister of Investment Khalid al-Falih said on Saturday foreign direct investment (FDI) increased by 12% in the first half of 2020 compared with the same period last year. As part of efforts to attract foreign investors, Saudi Arabia will launch next year special economic zones dedicated to several sectors, Falih said. In addition to attracting higher investment volumes, it will focus on "qualitative growth", he said, mentioning areas such as cloud computing, renewable energy, tourism, culture, entertainment, and logistics. "These investments may have lower investment volumes but higher impact on the economy."
Persons: Khalid al, Khalid, Falih Organizations: Saudi Energy, Saudi Arabia's, Saudi Aramco Locations: Saudi, Riyadh, Saudi Arabia
Oil Giant Aramco’s Strong Stock Is a Mirage
  + stars: | 2020-11-20 | by ( Rochelle Toplensky | ) www.wsj.com sentiment -1.00   time to read: 1 min
The best-performing big oil stock this year is one roundly rejected by global investors: Saudi Aramco. Most of the credit belongs to its shareholders rather than its management. It has been one of the worst years for oil and gas producers in recent history: A price war, a pandemic-induced plunge in energy demand and a green shift that raises awkward questions about the sector’s future profitability. Shares of the big U.S. oil producers are down almost a half in 2020 and their European peers about a quarter. That makes Saudi...
Organizations: Saudi Aramco Locations: Saudi
Should companies require employees to take the coronavirus vaccine?
  + stars: | 2020-11-19 | by ( ) www.cnbc.com sentiment -0.75   time to read: 1 min
Should companies require employees to take the coronavirus vaccine? As the Covid-19 surge continues, businesses across the country grapple with what impact another shutdown will have on their company. Mark Weinberger, former EY chairman and CEO who serves on the boards of Johnson & Johnson, MetLife and Saudi Aramco, joins "Squawk Box" to discuss what CEOs and boards are thinking in the midst of the pandemic.
Persons: Mark Weinberger Organizations: Johnson, MetLife, Saudi Locations: Saudi Aramco
Aramco tightens guidance by 15-20 bps for five-tranche bonds: document
  + stars: | 2020-11-17 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: 1 min
FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim ShemetovDUBAI (Reuters) - Saudi Aramco 2222.SE has tightened the price guidance for its five-part U.S. dollar-denominated bond sale and received over $30 billion in orders for the debt sale, a document from one of the banks on the deal showed on Tuesday. Aramco tightened the guidance by 15-20 basis points (bps) to around 125 bps over U.S. Treasuries (UST) for a three-year tranche, around 140 bps over UST for five-year bonds, around 160 bps over UST for 10-year notes, around 185 bps over UST for a 30-year tranche and around 210 bps over UST for 50-year bonds. The deal is expected to close on Tuesday.
Persons: Maxim Shemetov Organizations: Saudi, REUTERS, Maxim, Maxim Shemetov DUBAI, Reuters, Aramco, Treasuries, UST Locations: Saudi Aramco, Abqaiq, Saudi Arabia
Aramco markets five-tranche bonds, seeking cash amid cheap oil
  + stars: | 2020-11-17 | by ( Yousef Saba | ) www.reuters.com + 0.00   time to read: +2 min
DUBAI (Reuters) - Saudi Aramco 2222.SE began marketing a five-tranche U.S. dollar-denominated bond sale on Tuesday, as the world's largest oil producer seeks cash after low oil prices dented its finances. FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Aramco needs the money to pay dividends of $37.5 billion for the second half of 2020 and fund its $69.1 billion purchase of 70% of Saudi Basic Industries (SABIC) 2010.SE. It raised a loan of $10 billion this year, to be paid by installments until 2028, to back that acquisition. “An issuer like this doesn’t usually print tranches smaller than $1.5 billion or thereabouts,” a banker on the deal said.
Persons: Maxim, , Goldman Sachs GS.N, Morgan Stanley MS.N Organizations: Reuters, Saudi, REUTERS, Aramco, Saudi Basic Industries, Treasuries, UST, Citi C.N, HSBC HSBA.L, JPMorgan JPM.N, BNP, BNPP.PA, BOC, BofA Securities, Credit Agricole CAGR.PA, Bank FAB.AD, Mizuho, Societe Generale SOGN.PA Locations: DUBAI, Saudi Aramco, Abqaiq, Saudi Arabia, Saudi, Abu
With the latest systems, Microsoft and Sony are employing different strategies to attract gamers and generate even more revenue from gamers. Microsoft spent time promoting the entertainment capabilities of the Xbox, rather than focusing more directly on gaming. Sony's PlayStation Now cloud gaming service does not support mobile devices. Microsoft has approached game developers in Japan, the home country of Nintendo and Sony, Bloomberg reported earlier this week. Without any of these features in the new Xboxes, people are looking for hardware improvements as a reason to go with Microsoft.
Persons: Saeed Khan, Phil Spencer, Satya Nadella, Steve Ballmer, Porte de Versailles, It's, Miles Morales Organizations: AFP, Getty, Microsoft, Sony, Gaming, Apple, Saudi Aramco, IDC, Xbox, PlayStation, Windows, Linux, Parc, Chesnot, Netflix, Nintendo, Bloomberg Locations: Sydney, Saudi, Paris, Japan
Reliance's deal talks with Saudi Aramco gaining momentum: ET Now
  + stars: | 2020-11-09 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: +1 min
FILE PHOTO: Mukesh Ambani, chairman of Reliance Industries Limited, poses for photographers before addressing the annual shareholders meeting in Mumbai, India, June 12, 2015. REUTERS/Shailesh AndradeBENGALURU (Reuters) - Reliance Industries Ltd RELI.NS and Saudi Aramco 2222.SE are resuming talks over a 20% stake sale by the Indian conglomerate in its oil-to-chemical business after a brief pause due to COVID-19 pandemic, ET Now reported on Monday, citing sources. Both the companies were committed to the deal and Aramco wants to do physical inspection of Reliance’s assets in India, the report said. The deal, estimated to be about $15 billion as of August last year, had stalled over price, Reuters reported earlier this year. “India offers tremendous growth opportunities over the long term and Aramco continues to evaluate new business opportunities with our potential partners,” Saudi Aramco said in an e-mailed statement.
Persons: Mukesh Ambani, Shailesh Andrade Organizations: Reliance Industries, REUTERS, Shailesh Andrade BENGALURU, Reliance Industries Ltd, Aramco, Reuters, India, Reliance Locations: Mumbai, India, Saudi Aramco
In Halting Ant’s I.P.O., China Sends a Warning to Business
  + stars: | 2020-11-06 | by ( Raymond Zhong | ) www.nytimes.com sentiment -1.00   time to read: 1 min
This was supposed to be the week that one of China’s biggest tech companies threw the most lucrative coming-out party in history, sending a swaggering message about the country’s economic might during the pandemic. Instead, China sent a different message: No private business gets to swagger unless the government is on board with it. Regulators pulled the plug Tuesday on the initial public offering of Ant Group, the internet finance giant, which had been all but ready to press “Go” on its $34 billion stock debut in Shanghai and Hong Kong. would have brought in more cash than did Saudi Aramco, the state-run oil giant, when it went public last year. And Ant would have raised the money on the opposite side of the planet from New York, which has long been the favored listing destination for Chinese tech groups.
Organizations: Regulators, Ant Group, Saudi Aramco Locations: China, Shanghai, Hong Kong, Saudi, New York
Oil tanks at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and gas company, at the Abqaiq oil field. Net profit dropped to 44.21 billion riyals ($11.8 billion) this quarter from 79.84 billion riyals in the third quarter of 2019. The Saudi kingdom's state oil company saw lower crude oil prices and volumes sold, as well as weaker refining and chemicals margins, the company said in its release Tuesday. Aramco's first quarter dividend was paid in the second quarter. Aramco's stock price on the Saudi Tadawul was up just under 1% at 34.50 riyals per share within an hour of the exchange's open.
Persons: Aramco's, Neil Beveridge, Bernstein, CNBC's, Saudi Tadawul, Brent Organizations: Saudi Aramco, United Arab Emirates, Saudi, Aramco Locations: Saudi, Saudi Arabian, DUBAI, United Arab, Saudi Aramco
But Wall Street and business leaders are just fine with former Vice President Joe Biden, with some prioritizing a steady set of hands after the turmoil of the Trump era. It helps that Biden isn't perceived as being as threatening to business as progressives like Senators Bernie Sanders and Elizabeth Warren. While Wall Street has donated $74 million to Biden, the oil and gas industry clearly favors the president, according to data from the Center for Responsive Politics. Still, it's notable that Biden has gained acceptance in the business and investing world in a race against the CEO president, who presided over significant stock gains in 2017 and 2019. A UBS survey of 500 business owners and 1,000 investors conducted in mid-October found that 55% of business owners wanted Trump to win, while 51% of investors were backing Biden.
Persons: Joe Biden, Trump, Deepak Malhotra, wouldn't, Biden, Donald Trump —, , Malhotra, doesn't, Biden isn't, Bernie Sanders, Elizabeth Warren, David Barrett, Jamie Dimon, Sheldon Adelson, Safra Catz, Ludovic Subran, coronavirus, That's, Deepak Puri, CLX Estee, Hilton Organizations: CNN Business, Bell, CNN, America, Trump, Harvard Business, White, Yale School of Management, Biden, Roundtable, US Chamber of Commerce, National Association of Manufacturers, JPMorgan Chase, Center for Responsive Politics, Oracle, UBS, Allianz, Federal Reserve, Deutsche Bank Wealth Management, MPC, PayPal, Saudi Aramco, Hyatt, Qualcomm, ISM, Bank of England, Ant Group, AstraZeneca AZN GM GM Caesars Entertainment, Booking Holdings, andearnings, CNN Business, Allianz, Deepak Puri, Deutsche Bank Wealth Management, AstraZeneca, UBER, Yelp, Booking Holdings Locations: London, Americas, CLX Estee Lauder, Saudi, London, America, October
Ant IPO Sets Off $3 Trillion Scramble Among Small Investors
  + stars: | 2020-10-30 | by ( Joanne Chiu | ) www.wsj.com   time to read: +8 min
To Ant Group Co. ’s set of staggering statistics—a billion users, more than $17 trillion in yearly payment volumes—add one more: trillions of dollars in stock orders from small investors. Mom-and-pop investors in Hong Kong have also clamored to buy into this IPO, betting that Ant will soar in value after it goes public next Thursday. In Hong Kong, retail investors placed orders exceeding the 2.5% of shares initially reserved for them by 389 times, a person familiar with the matter said. SHARE YOUR THOUGHTS Do you think the Ant IPO might lead more investors to Hong Kong IPOs? Helping stimulate retail participation is the small minimum purchase, said Edmond Hui, chief executive of Hong Kong brokerage Bright Smart Securities.
Persons: , , Joe Chang, Mr, Chang, Felix Fan, Fan, Ant, Jack Ma, “ Jack Ma, Tai, ” Dennis Wu, Edmond Hui, Wing Kam, Kam, — Jing Yang, Joanne Chiu, Dennis Wu Organizations: Ant Group, STAR, Nasdaq, Riyadh Alibaba, Agricultural Bank of China, Shanghai ICBC, Shanghai SoftBank Corp, Tokyo AIA, Hong Kong Visa, York NTT Docomo, Tokyo General Motors, York Enel, York Agricultural Bank of China, Corp, Hong Kong, York, NTT Docomo, Motors, York Agricultural Bank of, SoftBank, Hong, New York NTT Docomo, Star IPOs, Wall Street, HSBC Holdings PLC, BOC Hong Kong ( Holdings, HK, Futu Securities, Alibaba, Holding, Bright Smart Securities, Investors, Phillip Securities Group, Alibaba, Tokyo General Motors, The Wall Street Journal, Alipay, Phillip Securities Group Locations: China, Shanghai, Hong Kong, Germany, Canada, Shanghai Saudi Aramco, Riyadh, Tokyo, York, Milan, Saudi Aramco, York Agricultural Bank of China Hong Kong, Shenzhen, Shanghai, Shenzhen, Ant
Ant IPO Sets Off $3 Trillion Scramble Among Small Investors
  + stars: | 2020-10-30 | by ( Joanne Chiu | ) www.wsj.com   time to read: +8 min
To Ant Group Co. ’s set of staggering statistics—a billion users, more than $17 trillion in yearly payment volumes—add one more: trillions of dollars in stock orders from small investors. Mom-and-pop investors in Hong Kong have also clamored to buy into this IPO, betting that Ant will soar in value after it goes public next Thursday. In Hong Kong, retail investors placed orders exceeding the 2.5% of shares initially reserved for them by 389 times, a person familiar with the matter said. SHARE YOUR THOUGHTS Do you think the Ant IPO might lead more investors to Hong Kong IPOs? Helping stimulate retail participation is the small minimum purchase, said Edmond Hui, chief executive of Hong Kong brokerage Bright Smart Securities.
Persons: , , Joe Chang, Mr, Chang, Felix Fan, Fan, Ant, Jack Ma, “ Jack Ma, Tai, ” Dennis Wu, Edmond Hui, Wing Kam, Kam, — Jing Yang, Joanne Chiu, Dennis Wu Organizations: Ant Group, STAR, Nasdaq, Riyadh Alibaba, Agricultural Bank of China, Shanghai ICBC, Shanghai SoftBank Corp, Tokyo AIA, Hong Kong Visa, York NTT Docomo, Tokyo General Motors, York Enel, York Agricultural Bank of China, Corp, Hong Kong, York, NTT Docomo, Motors, York Agricultural Bank of, SoftBank, Hong, New York NTT Docomo, Star IPOs, Wall Street, HSBC Holdings PLC, BOC Hong Kong ( Holdings, HK, Futu Securities, Alibaba, Holding, Bright Smart Securities, Investors, Phillip Securities Group, Alibaba, Tokyo General Motors, The Wall Street Journal, Alipay, Phillip Securities Group Locations: China, Shanghai, Hong Kong, Germany, Canada, Shanghai Saudi Aramco, Riyadh, Tokyo, York, Milan, Saudi Aramco, York Agricultural Bank of China Hong Kong, Shenzhen, Shanghai, Shenzhen, Ant
HONG KONG (Reuters) - The domestic retail book of Ant Group Co Ltd’s $34.4 billion dual listing was 872 times oversubscribed as individual investors in China scrambled for a slice of the world’s largest initial public offering (IPO), a company filing showed. Investor demand is also strong for the Hong Kong leg, with Ant closing institutional order books one day earlier than planned. The book was oversubscribed just one hour after launch on Monday, with the float stoking heavy demand for local currency and sending Hong Kong money market rates to five-month highs. Strong demand is also expected for the 41.76 million shares, being offered to retail investors in Hong Kong, representing 2.5% of shares being offered locally. The prospectus shows the total amount will be increased to 167.1 million shares, or 10% of the Hong Kong offering, if the initial retail allocation is more than 20 times oversubscribed.
Persons: Aly, Alibaba, Ant Organizations: Reuters, Ant, Ant Group, REUTERS, STAR, Saudi Arabian Oil Co, Nasdaq, Shanghai, Investor, Hong, HONG KONG (Reuters), Alibaba, Zhejiang province, REUTERS Locations: HONG KONG, China, Alibaba, Hangzhou, Zhejiang province, HK688688 ., Hong Kong, Saudi Aramco, Shanghai, Hangzhou
HONG KONG (Reuters) - The domestic retail book of Ant Group Co Ltd’s $34.4 billion dual listing was 872 times oversubscribed as individual investors in China scrambled for a slice of the world’s largest initial public offering (IPO), a company filing showed. Investor demand is also strong for the Hong Kong leg, with Ant closing institutional order books one day earlier than planned. The book was oversubscribed just one hour after launch on Monday, with the float stoking heavy demand for local currency and sending Hong Kong money market rates to five-month highs. Strong demand is also expected for the 41.76 million shares, being offered to retail investors in Hong Kong, representing 2.5% of shares being offered locally. The prospectus shows the total amount will be increased to 167.1 million shares, or 10% of the Hong Kong offering, if the initial retail allocation is more than 20 times oversubscribed.
Persons: Aly, Alibaba, Ant Organizations: Reuters, Ant, Ant Group, REUTERS, STAR, Saudi Arabian Oil Co, Nasdaq, Shanghai, Investor, Hong, HONG KONG (Reuters), Alibaba, Zhejiang province, REUTERS Locations: HONG KONG, China, Alibaba, Hangzhou, Zhejiang province, HK688688 ., Hong Kong, Saudi Aramco, Shanghai, Hangzhou
HONG KONG (Reuters) - The domestic retail book of Ant Group Co Ltd’s $34.4 billion dual listing was 872 times oversubscribed as individual investors in China scrambled for a slice of the world’s largest initial public offering (IPO), a company filing showed. Investor demand is also strong for the Hong Kong leg, with Ant closing institutional order books one day earlier than planned. The book was oversubscribed just one hour after launch on Monday, with the float stoking heavy demand for local currency and sending Hong Kong money market rates to five-month highs. Strong demand is also expected for the 41.76 million shares, being offered to retail investors in Hong Kong, representing 2.5% of shares being offered locally. The prospectus shows the total amount will be increased to 167.1 million shares, or 10% of the Hong Kong offering, if the initial retail allocation is more than 20 times oversubscribed.
Persons: Aly, Alibaba, Ant Organizations: Reuters, Ant, Ant Group, REUTERS, STAR, Saudi Arabian Oil Co, Nasdaq, Shanghai, Investor, Hong, HONG KONG (Reuters), Alibaba, Zhejiang province, REUTERS Locations: HONG KONG, China, Alibaba, Hangzhou, Zhejiang province, HK688688 ., Hong Kong, Saudi Aramco, Shanghai, Hangzhou
HONG KONG (Reuters) - The domestic retail book of Ant Group Co Ltd’s $34.4 billion dual listing was 872 times oversubscribed as individual investors in China scrambled for a slice of the world’s largest initial public offering (IPO), a company filing showed. Investor demand is also strong for the Hong Kong leg, with Ant closing institutional order books one day earlier than planned. The book was oversubscribed just one hour after launch on Monday, with the float stoking heavy demand for local currency and sending Hong Kong money market rates to five-month highs. Strong demand is also expected for the 41.76 million shares, being offered to retail investors in Hong Kong, representing 2.5% of shares being offered locally. The prospectus shows the total amount will be increased to 167.1 million shares, or 10% of the Hong Kong offering, if the initial retail allocation is more than 20 times oversubscribed.
Persons: Aly, Alibaba, Ant Organizations: Reuters, Ant, Ant Group, REUTERS, STAR, Saudi Arabian Oil Co, Nasdaq, Shanghai, Investor, Hong, HONG KONG (Reuters), Alibaba, Zhejiang province, REUTERS Locations: HONG KONG, China, Alibaba, Hangzhou, Zhejiang province, HK688688 ., Hong Kong, Saudi Aramco, Shanghai, Hangzhou
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