Vente d’actions de Saudi Aramco : un service financier à éviter

Reclaim Finance criticizes the involvement of over 20 financial institutions, including BNP Paribas, HSBC, and UBS, in a June 2024 secondary share offering (SSO) of 1.55 billion Saudi Aramco shares. While noting that an SSO does not provide new capital to the company for fossil fuel expansion, the author argues that such transactions reinforce the attractiveness of fossil fuel stocks. The document calls for a total ban on financial services—including coordination, bookrunning, and advisory—for any energy company continuing fossil fuel expansion, specifically targeting primary share offerings (PSOs) as a critical funding mechanism that must be prohibited to align with the IEA's Net Zero Emissions scenario.

• In June 2024, Saudi Arabia and Saudi Aramco conducted a secondary share offering (SSO) involving the sale of 1.55 billion shares, the largest stock market transaction in the Middle East since the company's 2019 IPO, supported by more than 20 financial institutions including BNP Paribas, HSBC, and UBS.
• Financial institutions should urgently stop supporting Primary Share Offerings (PSOs) for energy companies that have not abandoned fossil fuel expansion, as these operations provide new capital for growth, acquisitions, or debt reduction.
• The document asserts that financial services for fossil fuel developers must be halted to align with the International Energy Agency's (IEA) Net Zero Emissions (NZE) scenario, which requires no new oil and gas fields approved after 2021 and no new LNG terminals.
• Although secondary share offerings (SSOs) do not provide direct capital to the company, acting as a bookrunner for such transactions is problematic because it promotes fossil fuel securities and increases their attractiveness on financial markets.

APA

Martin, L. (2024). Vente d’actions de Saudi Aramco : un service financier à éviter. Reclaim Finance. https://reclaimfinance.org/site/2024/06/21/vente-dactions-de-saudi-aramco-un-service-financier-a-eviter/

Chicago

Martin, Léo. Vente d’actions de Saudi Aramco : un service financier à éviter. Reclaim Finance, 2024. https://reclaimfinance.org/site/2024/06/21/vente-dactions-de-saudi-aramco-un-service-financier-a-eviter/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=Vente d’actions de Saudi Aramco : un service financier à éviter |publisher=Reclaim Finance |date=21 June 2024 |url=https://reclaimfinance.org/site/2024/06/21/vente-dactions-de-saudi-aramco-un-service-financier-a-eviter/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2024vente, author = {Martin, Léo}, title = {{Vente d’actions de Saudi Aramco : un service financier à éviter}}, publisher = {Reclaim Finance}, year = {2024}, month = jun, url = {https://reclaimfinance.org/site/2024/06/21/vente-dactions-de-saudi-aramco-un-service-financier-a-eviter/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }