Comment by tonytran2015: This may turn out to be anothet example of the corrupt practice of “privatize the profit and socialize the loss”. A Saudi state owned company is now:
1. To be undersold to well connected foreigners in a
2. non-transparent IPO process in Saudi Arabia.
3. The proceed of the IPO will be in US dollars which are already under heavy devaluation pressure due to Negative Interest threat, Quantitative Easing and de-internationalization process by the Shanghai Cooperation group.
4. Most of the proceed in steadily depreciating US dollars may then be used to bet against US hedge funds on the RIGGED derivative markets and will be mostly lost like a Lybian national fund had been.
5. Some of the proceed may disappear like part of the Malaysian 1MDB had disappeared.
6. Some of the proceed will be used to buy expensive weapons to be used against low tech but effective rebels.
7. Some of the proceed may be wasted in pseudo-Green projects and useless infrastructure which lead to neither Green solutions nor effective infrastructure but are only channels for pocketing public funds.
8. Under the name of Diversification some of the proceed will be exchanged with astronomically overvalued “high tech” companies listed on US exchanges.
The Saudi public will be the ultimate losers. Saudi Arabia most probably will become much poorer after this move.