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Arqaam Capital Assesses Aramco Share at SAR39.2

Arqaam Capital assesses Aramco share at SAR39.2. (Getty Images)
Arqaam Capital assesses Aramco share at SAR39.2. (Getty Images)
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Arqaam Capital Assesses Aramco Share at SAR39.2

Arqaam Capital assesses Aramco share at SAR39.2. (Getty Images)
Arqaam Capital assesses Aramco share at SAR39.2. (Getty Images)

Early assessments of Saudi Aramco shares have begun to emerge with the oil giant’s historic listing and trading in the Saudi financial market last week.

Its shares hit SAR38.7 ($10.32), lifting its market value above $2 trillion and closed at SAR36.8, a rise of 4.5 percent from Wednesday’s close, making it the largest of listed companies in the world.

An evaluation report by UAE-based Arqaam Capital said the target purchase price for Aramco is SAR39.2 riyals ($10.4).

This value was determined according to the discounted cash flows, multiples and deduction of distributions.

Prepared by four researchers, Rita Guindy, Jaap Meijer, Sidharth Saboo and Soha Saniour, the report indicated that the multiples model has reached a fair price of SAR30 (8 dollars).

Meanwhile, they said, the discounted cash flows and dividend discount model ended with a fair price of SAR40 ($10.6) per share.

The report also noted that major factors drive more positive vision for the share price, foremost of which is ensuring dividend distribution and sustainable cash flow, as well as the company’s large resource base and the low-cost structure.

Despite considering the analysis of the size of the geopolitical risks and the focus process associated with the company's oil activity, the report said that the previous factors, along with strong cash flows in the current and future financial statements, all add to the expectations of a more gradual rise in financial distributions in the near future.

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.