Global Markets: Second Aramco offering in the works

2019 IPO pulled in US$29.4 billion

Reading Time: 2 minutes

Published: May 30, 2024

By Glen Hallick

 

Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.

 

  • Saudi Arabia could announce a landmark secondary share offering in the oil giant Aramco on Thursday, according to Reuters. The launch of the latest offering into the one of the world’s largest oil companies is expected to be on Sunday, with final approval from Crown Prince Mohammed bin Salman, Saudi Arabia’s de facto ruler. Aramco’s initial public offering pulled in US$29.4 billion in 2019.
  • Read Also

    Global Markets: U.S. ups tariffs on Canada

    Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.   United States…

 

  • South Africa’s ruling African National Congress is on course to lose its parliamentary majority after 20 per cent of the election ballots have been counted. The ANC has maintained a healthy lead with 44 per cent support, followed by the Democratic Alliance at 25 per cent. Upstart parties Economic Freedom Fighters and Umkhonto we Sizwe have nine and eight per cent of the votes, siphoning enough support for the ANC to very likely lose its majority after 30 years. The final results are expected over the weekend.

 

  • The Air Line Pilots Association issued a 72-hour strike notice on Wednesday to regional carrier WestJet Encore. The ALPA said some progress was made after the pilots rejected a tentative agreement. The union has been seeking improvements to pay, schedules and career progression. A union spokesperson said WestJet Encore’s 355 pilots are among the lowest paid in the country. They can hit the picket line as early as 4 pm CDT June 1.

 

  • Statistics Canada reported on Thursday that the country’s balance of international payments in the first quarter of 2024 came to a C$5.4 billion deficit. That was a C$900 million increase from Q4 of 2023. Among the data, StatCan said the balance for trade in goods and services ballooned by almost 60 per cent at C$4.7 billion. The export of goods contracted 1.3 per cent at C$191.7 billion, but metal product exports improved 9.7 per cent at C$24.5 billion.

About the author

GFM Network News

GFM Network News

Glacier FarmMedia Feed

Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.

explore

Stories from our other publications