Aramco maintains dividend, shrugs off 45% profit drop and rising debt
Does anyone still remember the putative Aramco IPO? Yes, I know, It’s already a year or more past, and at the rate our Newscycle turns, that could just as well be something straight out of medieval chronicles. But at the time Aramco was considered to be the most valuable company on Earth. The mother of all IPO’s. Everyone thought they need a piece of the action as only uttering the worlds would make you insanely rich. Well, now it almost looks like they are closing in on junk status. OK, some reality check here. Aramco being junk is as stupid as the hype in the recent past was. It’s not the goose that lays Golden Eggs and it’s also not a dud. Time to do some realistic valuation and thats not always going to be good news. Welcome to the real world.
