Latest Initial public offerings News

WeWork cuts nearly 20% of workforce in restructuring effort

Nov. 21, 2019 5:49 PM EST

NEW YORK (AP) — WeWork is slashing nearly 20% of its workforce, embarking on a painful restructuring of its money-losing operation that doomed its stock market debut and left the office-sharing company on the brink of bankruptcy. WeWork said it has laid off 2,400 of its approximately 12,500 employees to...

E-commerce giant Alibaba raises $11 billion in share listing

Nov. 20, 2019 9:54 PM EST

BEIJING (AP) — The Chinese e-commerce giant Alibaba has raised at least $11 billion in a share offering in Hong Kong, netting the city’s biggest offering since 2010 despite recent political turmoil. Alibaba on late Wednesday set the price for the secondary share offering at 176 Hong Kong dollars...

Saudi king touts reforms, Aramco IPO in annual address

Nov. 20, 2019 11:28 AM EST

RIYADH, Saudi Arabia (AP) — Saudi King Salman touted his country’s reforms in his annual address Wednesday and stressed the importance of his government’s decision to publicly list shares of the state-run oil giant Aramco. He also used his speech to warn rival Iran against further...

Saudi Aramco seeks record-setting IPO with value up to $1.7T

Nov. 17, 2019 1:12 PM EST

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-owned oil giant Aramco announced Sunday it will sell a 1.5% stake in the company as it looks to raise as much as $25.6 billion from the sale, potentially becoming the most-valuable initial public offering in history. The newly released figures...

WeWork loses $1.25 billion in third quarter

Nov. 14, 2019 4:12 PM EST

NEW YORK (AP) — WeWork racked up $1.25 billion in losses in the third quarter as it geared up for, and ultimately scuttled, its debut as a public company. WeWork’s losses more than doubled between June-September, compared with the same period the previous year, as the office-sharing company spent...

Saudi Aramco takes another step toward 1st public offering

Nov. 10, 2019 4:51 AM EST

DUBAI, United Arab Emirates (AP) — Saudi Arabia's state-owned oil giant Aramco released a lengthy document late Saturday that lays the ground for investors to buy into the world's most profitable company, but it remains unknown how much is on offer. In its preliminary prospectus, Aramco revealed that it...

Saudi Arabia formally starts IPO of oil firm Saudi Aramco

Nov. 3, 2019 7:33 AM EST

DHAHRAN, Saudi Arabia (AP) — Saudi Arabia formally began an initial public offering Sunday of a sliver of oil giant Saudi Aramco after years of delay, hoping international and local investors will pay billions of dollars for a stake in the kingdom's crown jewels. An approval by Saudi Arabia's Capital...

Saudi Arabia announces the start of the initial public offering of its state oil giant Saudi Aramco

Nov. 3, 2019 1:43 AM EDT
DUBAI, United Arab Emirates (AP) — Saudi Arabia announces the start of the initial public offering of its state oil giant Saudi Aramco.

Saudi energy minister: Saudi Aramco's public offering 'soon'

Oct. 30, 2019 6:29 AM EDT

RIYADH, Saudi Arabia (AP) — A planned stock offering of a small part of state-run oil giant Saudi Aramco "will come soon" and only at the direction of Saudi Arabia's crown prince, the kingdom's energy minister said Wednesday, further underlining the power of the 34-year-old royal. The minister, Prince...

Report: Saudi Aramco shares to start trading in December

Oct. 29, 2019 2:09 PM EDT

RIYADH, Saudi Arabia (AP) — A long-delayed initial public offering of the state-run oil giant Saudi Aramco will see its shares traded on Riyadh's stock exchange in December, a Saudi-owned satellite news channel reported Tuesday as the kingdom's showcase investment forum began. The report by Dubai-based...