Browsing Tag
Public Investment Fund
25 posts
Vale Base Metals IPO reportedly shelved as $24.6bn valuation benchmark meets surging copper earnings
Vale has reportedly put the Vale Base Metals IPO on hold indefinitely after preparing the copper-and-nickel unit for a potential 2026 listing. The decision comes after VBM generated $3.36 billion of 2025 adjusted EBITDA and another $2.49 billion in the first half of 2026. Manara Minerals’ earlier 10% investment implied roughly $24.6 billion of equity value, making the postponed listing as much a valuation decision as a political one.
Why LIV Golf is laying off most staff after more than $5bn of Saudi backing
LIV Golf says the majority of its workforce will leave in early September as Saudi Arabia’s Public Investment Fund ends financial support, forcing Chief Executive Officer Scott O’Neil to rebuild the breakaway golf league around a still-unfinished investor transaction and a dramatically leaner operating structure.
Jio Platforms clears SEBI hurdle for potential record IPO as Rs 27,500cr debt payoff reshapes Reliance valuation
Jio Platforms has received SEBI’s observation letter for an IPO that could become India’s largest. The all-fresh-share structure could direct up to ₹27,500 crore toward Reliance Jio Infocomm debt, making balance-sheet improvement and independent price discovery more important than promoter monetisation.
Aramco and Ma’aden sign shareholders agreement for Zone-4 copper exploration
Aramco and Ma'aden signed a Zone-4 shareholders agreement covering 10% of Saudi Arabia, quietly pivoting the JV from lithium to copper and rare earths.
Lenovo Group Q1 revenue jumps 43% to $26.9bn on AI infrastructure demand
Lenovo Group's Q1 revenue jumped 43% to $26.9bn as ISG nearly doubled and AI sales reached $9.3bn, extending momentum against Dell and HP in AI servers.
Electronic Arts (NASDAQ: EA) shares approach $210 offer as EU clearance nears for $55bn buyout
European regulators are expected to approve the Saudi PIF-led acquisition of Electronic Arts without conditions, tightening the deal spread while leaving US national-security approval as the most important remaining risk.
Lucid raised billions and secured an Uber deal, so why is it cutting jobs again?
Lucid Group is eliminating jobs, a factory shift and its chief operating officer role as Silvio Napoli attempts to align production with demand and preserve cash for the Gravity SUV, midsize vehicles and robotaxi partnerships.
Electronic Arts’ $55bn sale looks close, but Europe has added a second regulatory test
Electronic Arts’ $55 billion sale enters EU review as PIF, Silver Lake and Affinity face the July 22 test. Read what its deal spread signals for investors.
Iran’s missiles hit Saudi soil: Why Riyadh’s defence budget just got a hard floor
Riyadh's defence budget is shielded from oil shocks and Iran's missiles. The harder test is whether localisation hits 50 percent by 2030.
HUMAIN taps Accenture to accelerate sovereign AI deployment across Saudi Arabia
Saudi Arabia has AI infrastructure. HUMAIN and Accenture now face the real test: turning pilots into production-grade systems.