4.8 • 653 Ratings
🗓️ 9 November 2017
⏱️ 19 minutes
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0:00.0 | Welcome back to New World next week. I'm James Corbett of Corporate Report.com. |
0:13.1 | I'm James Evan Palado of MediaMonarchy.com Western military harvesting Russian genes. |
0:18.7 | And we don't mean denim. We got that story plus perusing the |
0:22.6 | Paradise Papers. But first, we continue to shine a light on the agenda known as Vision |
0:27.0 | 2030. As we begin with an article from nike.com, Saudi Purge brings China card into play |
0:33.8 | in Aramco deal. Plans to list shares of Sadie Aramco, the world's biggest oil producer, |
0:40.2 | have taken a new twist in recent weeks with talks of selling shares directly to China or other |
0:45.3 | institutional investors first rather than going to the stock exchange. Adding to the uncertainty |
0:50.6 | is the anti-corruption crackdown being carried out by the crown prince |
0:54.7 | Muhammad bin Salman, in which a number of influential princes and senior officials have |
0:59.5 | been implicated, arrested, and or, you know, killed in a helicopter crash of convenience, |
1:05.2 | including an Aramco board member who has also been arrested. |
1:08.4 | The Aramco IPO forms the centerpiece of Vision 2030, a blueprint for economic and social |
1:15.1 | reforms meant to diversify and re-energize Saudi Arabia's oil-dependent economy. |
1:20.2 | The proceeds from the sale are to be used to foster domestic industry and create jobs. |
1:24.5 | The plan is to sell a combined total of around 5% of Aramco shares next year on the Saudi stock exchange. |
1:31.5 | Prince Muhammad expressed his enthusiasm to sell Aramco shares early last year and has stated that the company |
1:37.3 | should be valued at more than $2 trillion. That would entail the largest IPO in history, dwarfing the, what would be the |
1:46.2 | previous record of 25 billion by China's Alibaba. So, James, can you give us some 20-20 vision on this |
1:53.5 | 2030 agenda? As you and I, I think, have been talking about this since they first kind of announced |
1:58.8 | it. And that goes back to New World next week in April of 2016, James. |
2:03.8 | That's right. |
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