State company Saudi Aramco exceeded US oil giant ExxonMobil in market cap. Saudi Aramco head Abdallah Djuma.
Photo: AP
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Hidden Charm of Bourgeoisie
// A rating of major non-public companies of the world is published
Business newspaper Financial Times published a rating of 150 major world non-public companies FT Non-Public 150. The list begins with oil giant Saudi Aramco as #1, and it also has Russian Railways with $18 billion of capitalization.
Financial Times, in cooperation with McKinsey consulting company, compiled first rating of 150 major non-public companies of the world. The list includes only those companies whose shares are not traded at the exchange, which are not subsidiaries or joint ventures, but which supply goods and services to commercial market. The companies’ position in the rating was estimated according to their market value, or rather what it could be if those companies offered their shares at the stock market in 2005.
The largest non-public company in the world is oil and gas company Saudi Aramco. Its capitalization is $781 billion, which by far exceeds that of the largest public company, US ExxonMobil with $439.5 billion. Growth of oil prices helped turn state oil companies of Mexico, Venezuela, Kuweit, Malaysia, Algeria, Iran, Indonesia into multi-billion giants. There are 16 oil and gas companies in the rating, and they control 75 percent of the world’s oil deposits.
The rating proves that private investment funds are growing in popularity. The leader among them is US fund Kohlberg Kravis Roberts, #17 on the list ($83 billion). There are 21 private funds in the rating. The only Russian company there is Russian Railways, #93, with market cap of nearly $18 billion.
www.kommersant.com
All the Article in Russian as of Dec. 16, 2006
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