1255 Fourier Dr., Suite 200, Madison, WI 53717 | 608.827.5700 | 877.886.5777 | Fax: 608.827.7300

The Wall Street Bankers Who Burst Aramco’s $2 Trillion Bubble – Bloomberg

 

  • Arguments between bankers and Aramco centered on valuation
  • Shares started trading in Riyadh today and jumped 10%

The chairman of the world’s biggest oil company was about to lose his temper.

At a meeting in Riyadh on a sultry October evening, Achintya Mangla, one of JPMorgan Chase & Co.’s most senior bankers, had told Yasir Al-Rumayyan there was no way international investors were going to value Saudi Aramco — just weeks away from an initial public offering — at $2 trillion. Read More….