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Political Turmoil in Saudi Arabia Could Place ARAMCO IPO and Potential MSCI EM Status at Risk

Clement K. Miller, CFA |
Wilmington Wire
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November 10, 2017— Saudi Arabia is planning an IPO for 5% of ARAMCO, the state-owned oil company, for 2018 or 2019. With an estimated value ranging from $50-$100 billion, the IPO would be the largest-ever IPO. The proceeds are slated to fund a capital increase in Saudi Arabia’s sovereign wealth fund, the Public Investment Fund. New York and London are competing to be the listing venue – President Trump even promoted New York by tweet.

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What to Look for as Tax Reform Debates Heat Up

Meghan Shue |
Wilmington Wire
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November 8, 2017— There is no single issue that has been discussed more since the November 2016 presidential election than tax reform. This is particularly true within investment circles, though sentiment regarding likelihood of passage has ebbed and flowed throughout this year. Last Thursday the House Republicans released the Tax Cuts and Jobs Act, a bill that would cut taxes by about $900 billion for individuals and almost $600 billion for companies. Static scoring (i.e.

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