[posting]62177460[/posting]After Aramco’s Record IPO, Traders Now Ask How to Short Shares
Brandon Kochkodin Bloomberg December 27, 2019
(Bloomberg) -- Shares of Saudi Aramco have shot up 10% since its record-setting $25.6 billion initial public offering earlier this month. That’s got bearish traders wondering whether they can short shares of the Gulf oil giant.
The answer: Not easily.
Normally, you wouldn’t even need to ask the question. Short sales -- when an investor borrows shares, sells them and then tries to buy them back at a lower price and profit from the difference -- are an established feature of exchanges across the world and practically a requirement for inclusion in MSCI indexes.
But when the company is Saudi Arabia’s crown jewel and when shares are listed on the kingdom’s Tadawul exchange, the answer is anything but obvious.
The Tadawul exchange does, on paper, permit short-selling, introducing it in 2017. But in practice the market for borrowing and lending shares in Saudi Arabia is illiquid, according to Marie Salem, head of institutions at Daman Securities in Dubai.
That’s because of a lack of familiarity with the concept of shorting shares. Religious scholars in Saudi Arabia long perceived short sales as a violation of Shariah although it’s permitted in other Islamic countries like Malaysia, according to Muhammed-Shahid Ebrahim, a professor of Islamic Finance at Durham University.
“The basic idea about Islamic finance is that you need to be equitable to people,” said Ebrahim. “You can’t sell what you don’t own is in the Koran.”
So investors with a pessimistic outlook on the value of a Tadawul-listed stock have to look abroad for shares to borrow to cover a short position.
But in the case of Aramco, ...
https://finance.yahoo.com/news/aramco-record-ipo-traders-now…
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... This name was later changed to Akzo Nobel which is owned by this Drugs King, where the waste from Shell, with subsidiary Billiton by mixing the Wolman salts, which contain Arsenic and Chromium 6, deliberately make the world's population sick.
We are deliberately sprayed with this waste, which via incineration power plant as fine dust by means of Chemtrails is an attack on our lives and food, water and air by the Bilderberg Nazis of the Netherlands.
The CO2 Fable, in which the blame is laid on the population, but the government deliberately mixes waste into fuel oil, which is sold as cheap ship's oil, pollutes more than 1375 more emissions than all cars in the world. ...
https://operationdisclosure1.blogspot.com/2019/12/transition…
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Japan entsendet Kriegsschiffe in den Nahen Osten
27.12.2019 12:00
Japan wird in Kürze Kriegsschiffe in den Nahen Osten entsenden, um seine Handelswege zu schützen.
https://deutsche-wirtschafts-nachrichten.de/501517/Japan-ent…
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... kamen die Raketen(Drohnen) etwa aus Kuweit ...December 24, 2019 / 1:32 PM
Chevron expects full oil output from Saudi-Kuwaiti field within 12 months
LONDON (Reuters) - U.S. oil major Chevron said on Tuesday it expects Saudi-Kuwaiti Neutral Zone’s Wafra oilfield to return to full production within 12 months.
Kuwait and Saudi Arabia on Tuesday signed a deal aiming to end their five-year dispute over the Neutral Zone and resume production which can amount to up to 0.5 percent of global oil supply.
“We welcome the signing of a memorandum of understanding between the governments of Kingdom of Saudi Arabia and the State of Kuwait which will lead to a restart of production and operations in the Wafra Joint Operations,” ...
https://www.reuters.com/article/us-kuwait-saudi-oil-chevron/…
https://www.wiwo.de/politik/ausland/oelfeld-chafdschi-kuwait…