This article appeared online at TheNewAmerican.com on Monday, December 2, 2019:
The “road show” designed to build investor interest and demand for shares of Saudi Aramco’s initial public offering (IPO) ends on Wednesday and the early results are disappointing, to say the very least.
Crown Prince Mohammed bin Salman (MBS) thought back in 2016 that he could sell a tiny piece of his country’s crown jewel, the Saudi Arabian Oil Company (Aramco) and raise $100 billion. He had big plans to invest those proceeds in diversifying his country’s economy away from its near total reliance upon oil revenues for its sustenance and for the maintenance of its welfare state.
Now, however, he’ll be lucky to get a quarter of that. And most of what he gets will come from pressure, threats, intimidation, and manipulation.
The New American has outlined the risks to those investors residing outside the Middle East, including: