Saudi Aramco prices shares at the top of the range for record IPO, report says

An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Shaybah oilfield in the Empty Quarter, Saudi Arabia. DUBAI — Saudi Arabian Oil Company, or Saudi Aramco, has priced its shares at the top of its indicative range for its initial public offering (IPO), Reuters reported Thursday citing three sources familiar with the decision. The shares have been priced at 32 riyals ($8.53), with a formal announcement expected later on Thursday, according to the news agency. That 1% is equiva


An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Shaybah oilfield in the Empty Quarter, Saudi Arabia.
DUBAI — Saudi Arabian Oil Company, or Saudi Aramco, has priced its shares at the top of its indicative range for its initial public offering (IPO), Reuters reported Thursday citing three sources familiar with the decision.
The shares have been priced at 32 riyals ($8.53), with a formal announcement expected later on Thursday, according to the news agency.
That 1% is equiva
Saudi Aramco prices shares at the top of the range for record IPO, report says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: natasha turak
Keywords: news, cnbc, companies, ipo, prices, range, stock, oil, billion, record, saudi, aramcos, riyals, public, shares, priced, worlds, aramco, report


Saudi Aramco prices shares at the top of the range for record IPO, report says

An Aramco oil tank is seen at the Production facility at Saudi Aramco’s Shaybah oilfield in the Empty Quarter, Saudi Arabia.

DUBAI — Saudi Arabian Oil Company, or Saudi Aramco, has priced its shares at the top of its indicative range for its initial public offering (IPO), Reuters reported Thursday citing three sources familiar with the decision.

The shares have been priced at 32 riyals ($8.53), with a formal announcement expected later on Thursday, according to the news agency. This means it is set to raise $25.6 billion and will likely beat Alibaba to be the world’s largest ever stock market flotation.

The long-awaited IPO of the world’s largest and most profitable company will list locally on the Tadawul, Saudi Arabia’s stock exchange, and forms the centerpiece of Crown Prince Mohammed bin Salman’s Vision 2030 aimed at transforming the Saudi economy.

The pricing announcement will follow a-week long local roadshow around the Middle East that saw Aramco’s local listing oversubscribed by nearly three times, attracting offers worth 189.04 billion riyals ($50.4 billion), according to banks advising the listing. Institutional investors had between Nov. 17 and Dec. 4 to place their orders.

Aramco has said in the past that 0.5% of its listed shares would be available to individual retail buyers, while the remaining 1% would be for institutional investors. That 1% is equivalent to 2 billion shares. In the first two and a half weeks of Aramco’s bookbuilding period, it drew subscription orders for 5.9 billion shares.

Gulf allies in the United Arab Emirates and Kuwait have made substantial commitments to the Saudi project, with the Kuwait Investment Authority and Abu Dhabi reportedly investing up to $1 billion and $1.5 billion in the public offering, respectively, though they have not commented publicly on the matter.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: natasha turak
Keywords: news, cnbc, companies, ipo, prices, range, stock, oil, billion, record, saudi, aramcos, riyals, public, shares, priced, worlds, aramco, report


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Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: ‘It’s all priced in’

A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017. Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks. “Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming. Roku’s valuation levels have surged past digital media players and


A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017.
Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks.
“Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming.
Roku’s valuation levels have surged past digital media players and
Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: ‘It’s all priced in’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael sheetz
Keywords: news, cnbc, companies, stocks, note, companys, video, past, priced, 2019, york, weight, morgan, valuation, downgrades, hottest, stanley, roku, ytd


Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: 'It's all priced in'

A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017.

Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks.

Roku’s stock fell more than 16% in trading on Monday.

“Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming. As a result, we see the risk/reward skewed to the downside. Roku’s valuation levels have surged past digital media players and even past high-growth SAAS [software as a service] companies … despite structurally lower gross margins,” Morgan Stanley analyst Benjamin Swinburne said in a note to investors. The note was titled, “It’s all priced in.”


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael sheetz
Keywords: news, cnbc, companies, stocks, note, companys, video, past, priced, 2019, york, weight, morgan, valuation, downgrades, hottest, stanley, roku, ytd


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Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: ‘It’s all priced in’

A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017. Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks. “Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming. Roku’s valuation levels have surged past digital media players and


A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017.
Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks.
“Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming.
Roku’s valuation levels have surged past digital media players and
Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: ‘It’s all priced in’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael sheetz
Keywords: news, cnbc, companies, stocks, note, companys, video, past, priced, 2019, york, weight, morgan, valuation, downgrades, hottest, stanley, roku, ytd


Morgan Stanley downgrades Roku, one of the hottest stocks of 2019: 'It's all priced in'

A video sign displays the logo for Roku, after the company’s IPO at the Nasdaq Market in New York, September 28, 2017.

Morgan Stanley lowered its rating on Roku to underweight from equal weight, saying the stock’s phenomenal climb this year fully reflects the company’s growth prospects and fails to recognize some key risks.

Roku’s stock fell more than 16% in trading on Monday.

“Roku shares are up over 400% YTD due to rising estimates and overall exuberance over all things streaming. As a result, we see the risk/reward skewed to the downside. Roku’s valuation levels have surged past digital media players and even past high-growth SAAS [software as a service] companies … despite structurally lower gross margins,” Morgan Stanley analyst Benjamin Swinburne said in a note to investors. The note was titled, “It’s all priced in.”


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: michael sheetz
Keywords: news, cnbc, companies, stocks, note, companys, video, past, priced, 2019, york, weight, morgan, valuation, downgrades, hottest, stanley, roku, ytd


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China raises $6 billion in its biggest ever international bond sale

A Chinese flag floats in the middle of traditional lanterns on February 17, 2018 in Beijing, China. China raised $6 billion in its biggest ever international sovereign bond sale on Tuesday, as it pounced on the year’s sharp dive in borrowing costs. A 3-year issue priced 35 basis points above benchmark U.S. Treasuries, a source at one of the managing banks said. A 5-year bond priced at 40 bps above Treasuries, a 10-year at 50 bps above Treasuries and a 20-year tranche at 70 bps above Treasuries,


A Chinese flag floats in the middle of traditional lanterns on February 17, 2018 in Beijing, China.
China raised $6 billion in its biggest ever international sovereign bond sale on Tuesday, as it pounced on the year’s sharp dive in borrowing costs.
A 3-year issue priced 35 basis points above benchmark U.S. Treasuries, a source at one of the managing banks said.
A 5-year bond priced at 40 bps above Treasuries, a 10-year at 50 bps above Treasuries and a 20-year tranche at 70 bps above Treasuries,
China raises $6 billion in its biggest ever international bond sale Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-27
Keywords: news, cnbc, companies, source, treasuries, biggest, bonds, sovereign, international, raises, bps, priced, sale, ministry, markets, billion, bond, china


China raises $6 billion in its biggest ever international bond sale

A Chinese flag floats in the middle of traditional lanterns on February 17, 2018 in Beijing, China.

China raised $6 billion in its biggest ever international sovereign bond sale on Tuesday, as it pounced on the year’s sharp dive in borrowing costs.

The finance ministry sold the bonds in four tranches. A 3-year issue priced 35 basis points above benchmark U.S. Treasuries, a source at one of the managing banks said. A 5-year bond priced at 40 bps above Treasuries, a 10-year at 50 bps above Treasuries and a 20-year tranche at 70 bps above Treasuries, the source said.

The deal comes after a market rally this year that has driven global bond yields sharply lower, significantly decreasing the cost of financing compared with its previous dollar issuance in October 2018.

The $6 billion total was roughly double the original target and order books — or demand — for the bonds had been over $20 billion earlier in the day, according to Refinitiv capital markets news service IFR.

“This has been the largest Reg-S offering by an Asian sovereign issuer to date,” said Sam Fischer, head of China onshore debt capital markets at Deutsche Bank, one of 13 banks mandated to lead the sale.

China’s finance ministry had signaled the move would help it improve its bond yield curve.

It will “provide a pricing benchmark for Chinese enterprises issuing U.S. dollar bonds,” Bank of China had said in a statement on its website on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2019-11-27
Keywords: news, cnbc, companies, source, treasuries, biggest, bonds, sovereign, international, raises, bps, priced, sale, ministry, markets, billion, bond, china


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Alibaba prices shares at around 176 Hong Kong dollars, for world’s biggest listing so far this year

Alibaba has set a likely price for shares for institutional investors in its upcoming Hong Kong listing, a source with direct knowledge of the matter told CNBC. The e-commerce giant’s shares will likely be priced at 176 Hong Kong dollars ($22.48), the source said. The retail portion of the secondary listing has not been priced yet, but that is expected on Wednesday. Retail shares are “likely to be priced around the same level” as the institutional portion, the source told CNBC. Alibaba got the g


Alibaba has set a likely price for shares for institutional investors in its upcoming Hong Kong listing, a source with direct knowledge of the matter told CNBC.
The e-commerce giant’s shares will likely be priced at 176 Hong Kong dollars ($22.48), the source said.
The retail portion of the secondary listing has not been priced yet, but that is expected on Wednesday.
Retail shares are “likely to be priced around the same level” as the institutional portion, the source told CNBC.
Alibaba got the g
Alibaba prices shares at around 176 Hong Kong dollars, for world’s biggest listing so far this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-20  Authors: arjun kharpal
Keywords: news, cnbc, companies, dollars, shares, priced, kong, listing, prices, hong, told, biggest, far, likely, worlds, source, retail, alibaba, secondary


Alibaba prices shares at around 176 Hong Kong dollars, for world's biggest listing so far this year

Alibaba has set a likely price for shares for institutional investors in its upcoming Hong Kong listing, a source with direct knowledge of the matter told CNBC.

The e-commerce giant’s shares will likely be priced at 176 Hong Kong dollars ($22.48), the source said. That is just less than a 3% discount to the U.S. closing price. One U.S.-listed ADS, or American Depository Share, is equal to eight ordinary shares.

That would make the listing the world’s biggest so far in 2019.

The retail portion of the secondary listing has not been priced yet, but that is expected on Wednesday. Retail shares are “likely to be priced around the same level” as the institutional portion, the source told CNBC.

Alibaba got the green light from Hong Kong regulators for the secondary listing last week, CNBC previously reported.


Company: cnbc, Activity: cnbc, Date: 2019-11-20  Authors: arjun kharpal
Keywords: news, cnbc, companies, dollars, shares, priced, kong, listing, prices, hong, told, biggest, far, likely, worlds, source, retail, alibaba, secondary


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Deutsche Bank says an Apple earnings beat on strong iPhone demand is ‘priced in’

Tim Cook, chief executive officer of Apple Inc., speaks about the new iPhone Pro during an event at the Steve Jobs Theater in Cupertino, California, U.S., on Tuesday, Sept. 10, 2019. Apple unveiled the iPhone 11 that will replace the XR and start at $699. Photographer: David Paul Morris/Bloomberg via Getty ImagesWith a slew of price target raises from Wall Street driven by strong iPhone sales, Apple’s beat on its earnings is already priced into the stock, according to Deutsche Bank. The firm rai


Tim Cook, chief executive officer of Apple Inc., speaks about the new iPhone Pro during an event at the Steve Jobs Theater in Cupertino, California, U.S., on Tuesday, Sept. 10, 2019.
Apple unveiled the iPhone 11 that will replace the XR and start at $699.
Photographer: David Paul Morris/Bloomberg via Getty ImagesWith a slew of price target raises from Wall Street driven by strong iPhone sales, Apple’s beat on its earnings is already priced into the stock, according to Deutsche Bank.
The firm rai
Deutsche Bank says an Apple earnings beat on strong iPhone demand is ‘priced in’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-22  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, iphone, wall, bank, priced, apple, deutsche, price, stock, target, beat, apples, share, demand, strong, earnings


Deutsche Bank says an Apple earnings beat on strong iPhone demand is 'priced in'

Tim Cook, chief executive officer of Apple Inc., speaks about the new iPhone Pro during an event at the Steve Jobs Theater in Cupertino, California, U.S., on Tuesday, Sept. 10, 2019. Apple unveiled the iPhone 11 that will replace the XR and start at $699. Photographer: David Paul Morris/Bloomberg via Getty Images

With a slew of price target raises from Wall Street driven by strong iPhone sales, Apple’s beat on its earnings is already priced into the stock, according to Deutsche Bank.

The firm raised its price target on the stock to $230 per share from $210 per share. Deutsche Bank’s target is still below Apple’s Monday closing price of $240.51 per share.


Company: cnbc, Activity: cnbc, Date: 2019-10-22  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, iphone, wall, bank, priced, apple, deutsche, price, stock, target, beat, apples, share, demand, strong, earnings


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Deutsche Bank says an Apple earnings beat on strong iPhone demand is ‘priced in’

Tim Cook, chief executive officer of Apple Inc., speaks about the new iPhone Pro during an event at the Steve Jobs Theater in Cupertino, California, U.S., on Tuesday, Sept. 10, 2019. Apple unveiled the iPhone 11 that will replace the XR and start at $699. Photographer: David Paul Morris/Bloomberg via Getty ImagesWith a slew of price target raises from Wall Street driven by strong iPhone sales, Apple’s beat on its earnings is already priced into the stock, according to Deutsche Bank. The firm rai


Tim Cook, chief executive officer of Apple Inc., speaks about the new iPhone Pro during an event at the Steve Jobs Theater in Cupertino, California, U.S., on Tuesday, Sept. 10, 2019.
Apple unveiled the iPhone 11 that will replace the XR and start at $699.
Photographer: David Paul Morris/Bloomberg via Getty ImagesWith a slew of price target raises from Wall Street driven by strong iPhone sales, Apple’s beat on its earnings is already priced into the stock, according to Deutsche Bank.
The firm rai
Deutsche Bank says an Apple earnings beat on strong iPhone demand is ‘priced in’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-22  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, iphone, wall, bank, priced, apple, deutsche, price, stock, target, beat, apples, share, demand, strong, earnings


Deutsche Bank says an Apple earnings beat on strong iPhone demand is 'priced in'

Tim Cook, chief executive officer of Apple Inc., speaks about the new iPhone Pro during an event at the Steve Jobs Theater in Cupertino, California, U.S., on Tuesday, Sept. 10, 2019. Apple unveiled the iPhone 11 that will replace the XR and start at $699. Photographer: David Paul Morris/Bloomberg via Getty Images

With a slew of price target raises from Wall Street driven by strong iPhone sales, Apple’s beat on its earnings is already priced into the stock, according to Deutsche Bank.

The firm raised its price target on the stock to $230 per share from $210 per share. Deutsche Bank’s target is still below Apple’s Monday closing price of $240.51 per share.


Company: cnbc, Activity: cnbc, Date: 2019-10-22  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, iphone, wall, bank, priced, apple, deutsche, price, stock, target, beat, apples, share, demand, strong, earnings


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The good news may already be priced into the pound: Investor

The good news may already be priced into the pound: Investor5 Hours AgoAxel Merk of Merk Investments says talk that the European Union would not agree to another extension to the Brexit deadline is a “thinly veiled bluff.”


The good news may already be priced into the pound: Investor5 Hours AgoAxel Merk of Merk Investments says talk that the European Union would not agree to another extension to the Brexit deadline is a “thinly veiled bluff.”
The good news may already be priced into the pound: Investor Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18
Keywords: news, cnbc, companies, hours, priced, pound, thinly, veiled, union, investor5, investments, investor, merk, good, talk


The good news may already be priced into the pound: Investor

The good news may already be priced into the pound: Investor

5 Hours Ago

Axel Merk of Merk Investments says talk that the European Union would not agree to another extension to the Brexit deadline is a “thinly veiled bluff.”


Company: cnbc, Activity: cnbc, Date: 2019-10-18
Keywords: news, cnbc, companies, hours, priced, pound, thinly, veiled, union, investor5, investments, investor, merk, good, talk


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Investor foresees a ‘volatility event’ near the end of 2019

Investor foresees a ‘volatility event’ near the end of 20193 Hours AgoDavid Sokulsky of the Concentrated Leaders Fund says markets are have not priced in risks such as Brexit uncertainty and the U.S.-China trade war.


Investor foresees a ‘volatility event’ near the end of 20193 Hours AgoDavid Sokulsky of the Concentrated Leaders Fund says markets are have not priced in risks such as Brexit uncertainty and the U.S.-China trade war.
Investor foresees a ‘volatility event’ near the end of 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15
Keywords: news, cnbc, companies, uschina, war, investor, trade, end, foresees, volatility, sokulsky, markets, near, uncertainty, event, 2019, risks, priced


Investor foresees a 'volatility event' near the end of 2019

Investor foresees a ‘volatility event’ near the end of 2019

3 Hours Ago

David Sokulsky of the Concentrated Leaders Fund says markets are have not priced in risks such as Brexit uncertainty and the U.S.-China trade war.


Company: cnbc, Activity: cnbc, Date: 2019-10-15
Keywords: news, cnbc, companies, uschina, war, investor, trade, end, foresees, volatility, sokulsky, markets, near, uncertainty, event, 2019, risks, priced


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Markets haven’t fully priced in a hard Brexit: Strategist

Markets haven’t fully priced in a hard Brexit: Strategist3 Hours AgoSeema Shah of Principal Global Investors says the British pound would be “much weaker” at 1.20 or 1.18 against the dollar if a hard Brexit has been fully priced in.


Markets haven’t fully priced in a hard Brexit: Strategist3 Hours AgoSeema Shah of Principal Global Investors says the British pound would be “much weaker” at 1.20 or 1.18 against the dollar if a hard Brexit has been fully priced in.
Markets haven’t fully priced in a hard Brexit: Strategist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07
Keywords: news, cnbc, companies, priced, shah, fully, strategist, weaker, strategist3, hard, havent, principal, brexit, pound, markets


Markets haven't fully priced in a hard Brexit: Strategist

Markets haven’t fully priced in a hard Brexit: Strategist

3 Hours Ago

Seema Shah of Principal Global Investors says the British pound would be “much weaker” at 1.20 or 1.18 against the dollar if a hard Brexit has been fully priced in.


Company: cnbc, Activity: cnbc, Date: 2019-10-07
Keywords: news, cnbc, companies, priced, shah, fully, strategist, weaker, strategist3, hard, havent, principal, brexit, pound, markets


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