Saudi……….Go home!

My expertise in in engineering fields, electricity generation and supply, mechanical items, water purification and transport; how to make things work, move or make things easier for users. Financial items, I learn from what I read, what I have experienced whilst working in and on engineering projects. I know how important is the need for strict scrutiny of where the cash comes from, how stable are the institutions which supply the investment cash, and how those institutions are governed.

Surprisingly enough, I’m with the Guardian on this one. The London Stock Market rules have been tested before, and they have been built to be both rugged and accommodating: but I do not believe that, just because Saudi’s Aramco will be the world’s largest and possibly its most wealthy member if it comes to London for its IPO; the rules should be swayed, moved, lessened or, in at least one vital area: ignored completely. $2 trillion’s worth of business is not to be sniffed at, but Saudi should be told ‘No special treatment, no relaxation of the rules for Independent Directors; and definitely no allowance; because you are who you are; for a diminution of the amount of stock offered, from a minimum of 25% to be lowered to 5%.’

 

Business is business, but, if you want special treatment, go elsewhere!

1 comment for “Saudi……….Go home!

  1. Pcar
    October 31, 2017 at 10:33 pm

    Mike,

    Candidly speaking [ 😉 ] I disagree.

    LSE are creating a new listing classification [group] for companies like Aramco.

    Investors are already capable of differentiating between existing categories, a new one is nothing to cause concern.

    Allow the buyers/traders to decide if Aramco category succeeds or fails; not you or Gov’t forbidding it.

    Cheers

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