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Saudi Aramco reaches $2T value in second day of trading
- nabla9 7y agoWhat an insane country and what an insane IPO. Aramco is estimated to be valued around $1.5T. But Prince Mohammed had promised $2-trillion valuation and decided to fake it. He told rich Saudi's to buy Aramco or else. It involves thinly veiled physical threats. Saudi Arabia renews push for $2tn Aramco valuation https://www.ft.com/content/0043ccf6-1b42-11ea-97df-cc63de1d73f4 https://www.ft.com/content/0043ccf6-1b42-11ea-97df-cc63de1d7... >Many wealthy families, some of whom were caught up in a 2017 anti-corruption crackdown masterminded by Prince Mohammed that resulted in hundreds of businessmen and princes being detained at the Ritz-Carlton hotel in Riyadh, have already bought shares. Some are now being asked to pledge further funds, advisers to the families said. >“They’ve been told it is their duty, and everyone understands what that means,” said one adviser to local wealthy families. >“This is another Ritz, through different means,” said another banker working on the deal