On 11 December 2019, BOCI Asia Limited(“BOCI”), as the only Chinese investment bank mandated, assisted Saudi Arabian Oil Company (“Saudi Aramco”, “Company”) in its successful listing in the Saudi Exchange (Tadawul). Saudi Aramco, the world’s largest oil & gas company, raised US$25.6 billion (before exercise of the over-allotment option) in the IPO, which is the biggest IPO ever in the global capital market.
BOCI is honored to participate in this global capital market landmark event and one of the “Belt and Road Initiative” major projects, and played a unique and critical role in the milestones of the transaction, including communication with international investors and securing international orders. It demonstrates not only the strength and leading position of BOCI as a Chinese investment bank in the international capital market, but also the comprehensive capabilities of BOCI to provide full scope of services to global customers.
Saudi Aramco priced its IPO at 32 riyals per share (equivalent to approximately US$8.53 per share). The first day of listing was opened and maintained at 35.2 riyals, capping a stock market debut at 10% higher than the offer price, with a market value of approximately US$1.88 trillion. Currently Saudi Aramco is the largest listed company in the global capital market in terms of market capitalization.
Saudi Aramco is the world’s largest integrated oil & gas company. In 2018, it produced 13.6 million barrels per day of oil equivalent, including 10.3 million barrels per day of crude oil, accounting for about 1/8 of global crude oil production. As of the year end of 2018, the Company’s proved liquids reserves were 226.8 billion barrels, which was the largest amount of conventional proved liquids reserves of any company in the world. In 2018, the Company’s total revenue was US$355.9 billion and its net profit was US$111.1 billion.
BOCI, as one of the pioneer international investment banks in China, has managed to establish the most comprehensive overseas products and services framework, the largest sales network, and the most assets under management. BOCI has developed into one of the very few Chinese investment banks that are capable of providing full-scale and one-stop integrated services globally.
Source:Caixin
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